Yvette Shields

Chicago Mayor Rahm Emanuel's proposed $6.5 billion corporate fund budget for 2013 won the endorsement of a local government fiscal watchdog group.

Illinois will need to contribute $6.8 billion toward its five pension funds in the next fiscal year, up by about $965 million in the current fiscal 2013 budget, the Chicago Civic Federation said.

With underwriting desks back and investor appetites whetted after a lack of primary paper last week, Wisconsin jumped into the market with its taxable $251 million refunding.

Grigsby & Associates Inc. owner Calvin Grigsby faces a December hearing on accusations leveled by Illinois Secretary of State regulators over the firm's investment advice to the Illinois Student Assistance Commission.

Illinois Gov. Pat Quinn prevailed in his feud with Chicago Mayor Rahm Emanuel when Quinn’s communications chief, Kelly Kraft, was named executive director of the Illinois Sports Facilities Authority.

The Minnesota Supreme Court released an opinion Wednesday finding that the state’s use of an appropriation pledge to back a proposed tobacco refunding issue does not constitute a “public debt” subject to state limits on such debt.

Fitch Ratings revised its outlook on Milwaukee County's unlimited tax general obligation bonds and taxable pension note anticipation notes to stable from negative in recognition of the county’s ability to consistently balance operations.

Chicago will pursue three municipal marketing initiatives aimed at generating $18 million for the next city budget, Mayor Rahm Emanuel said.

The Chicago Board of Education last week approved the new $295 million three-year contract with the Chicago Teachers Union

The Regional Transportation Authority of Illinois qualified 10 financial advisory firms to assist the agency on future bond deals and other fiscal transactions over the next five years.

Assets of the shuttered, half-built Mamtek US Inc. plant in Moberly Missouri were auctioned Wednesday to help creditors – including holders of $39 million of defaulted revenue bonds – recoup some of their losses.

Illinois faces a dire fiscal reckoning unless it acts sooner rather than later to tackle its mammoth unfunded pension obligations and make tough choices on taxation and spending, warns a new report from a national task force.

Elgin-Ill.-based Sherman Health System has signed a letter of intent to join Illinois' largest not-for-profit health care system Oak Brook, Ill.-based Advocate Health Care.

The Council of Development Finance Agencies is launching a new initiative known as the Illinois Financing Roundtable with plans for a webcast to kickstart the effort set for Dec. 10.

Standard & Poor’s revised its outlook to negative from stable on Clair County Community Unit School District No. 196’s A rating.

Chicago last week said its hotel occupancy tax is up by 4.9% so far this year after an especially strong September.

A local government fiscal and budget watchdog group endorsed DuPage County, Ill.'s proposed $432 million 2013 budget, which leaves a healthy fund balance intact while also holding the line on its property tax levy and reducing headcount.

A Wisconsin judge has refused the state's request to stay during the appeals process his ruling that overturned portions of a controversial law curtailing bargaining rights for most public unions.

The Metropolitan St. Louis Sewer District will refund $142 million of bonds this week in a deal that marks the final under the fiscal stewardship of treasurer Karl Tyminski.

The top- Metropolitan Council enters the market this week to refund some debt and raise $100 million in interim financing for its $957 million light-rail line that will link the downtowns of Minneapolis and St. Paul.