Yvette Shields

llinois Comptroller Judy Baar Topinka and not-for-profit leaders announced the formation of the Illinois Nonprofit Advisory Council to help service organizations deal with fiscal stress driven by chronically late state payments.

The Illinois International Port District, which owns the Port of Chicago, agreed with to lease most of the district's facilities to private investors.

Chicago Public Schools began notifying more than 1,000 teachers of layoffs as the district chips away at a $1 billion deficit

Moody's socked $11.5 billion of Chicago debt with multi-notch downgrades over its mounting pension woes and warned of a potential further hit down the road as a dramatic contribution spike looms.

Ill. Gov. Pat Quinn signed legislation Wednesday that authorizes spending on the $2.7 billion third phase of projects under the state's ongoing $31 billion capital program.

The trustee for $27 million of defaulted lease revenue bonds backed by a Minnesota city to finance a sports complex wants to unload the facility but it doesn't expect to make bondholders whole through the sale.

Chicago O'Hare International Airport's new customer facility charge bond credit established to help finance a consolidated car rental center received a first-time rating of Baa1 from Moody's Investors Service.

Xenia Rural Water District, a once insolvent utility in Iowa that is currently making good on its $125 million of bonds and loans under a restructuring agreement still faces longterm challenges that could threaten its ability to remain on track, according to a state audit.

Moody's Investors Service has dropped Macon County School District 61 in Decatur's general obligation rating by two notches to A3 and warned of further action by assigning a negative outlook over its fiscal woes.

Chicago should declare a tax-increment financing surplus to free up some TIF revenue for the Chicago Public Schools as it grapples with a $1 billion deficit in its fiscal 2014 budget, Cook County Clerk David Orr urged.

The Chicago Landmarks Commission has signed off on the Chicago Cubs proposal to install large outfield video screens at Wrigley Field as part of its $500 million privately financed plan to renovate the landmark ballpark.

The City Colleges of Chicago's proposed $657 million fiscal 2014 budget won the endorsement of the Civic Federation of Chicago for ongoing progress toward improving its fiscal and operational health.

Louisville, Ky.-based Hilliard Lyons has hired former Cook County chief financial officer and former Chicago comptroller Tariq Malhance to lead its public finance banking efforts in the Chicago region and Illinois.

A special Illinois legislative committee tasked with breaking a logjam on pension reform pushed back against Ill. Gov. Pat Quinn for pressuring the group to complete its work as he threatened lawmakers with unspecified "consequences" if they fail to meet his Tuesday deadline.

Moody's Investors Service hit Rock Island County Metro Mass Transit District in Illinois with a one notch downgrade to Aa3 over the district's heavy reliance on aid from the struggling state to cover operations and debt service.

Ill. Gov. Pat Quinn has signed legislation that lays the groundwork for Mayor Rahm Emanuel's plan to eventually eliminate healthcare subsidies for many retirees as the city seeks to shed a rising expense.

Milwaukee takes bids Tuesday on $62 million of taxable general obligation promissory notes that will put the city on a path toward reducing interest charges on its annual pension payments while eliminating volatility in the size of annual payments.

A round of cuts at Raymond James & Associates Inc. has claimed at least three veterans in the firm's underwriting, municipal research and strategist groups, sources said.

The head of a special Illinois legislative committee assigned to solve the state's pension quagmire said the group expected to take initial steps toward crafting a framework for a reform plan.

The Illinois State Toll Highway Authority plans to enter the market with a roughly $425 million fixed-rate refunding of toll-backed revenue bonds in a deal scaled down due to rising interest rates.