Yvette Shields

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.

After an eight-year lull in state revolving fund borrowing, Illinois is poised to return to the market next year to fund low-cost loans to municipalities under a $1 billion Clean Water Initiative launched by Gov. Pat Quinn.

The Illinois State Toll Highway Authority unveiled a proposed $1.5 billion budget for 2013 that banks on $1 billion in borrowing to finance projects planned under the system's $12 billion capital program.

Wisconsin will take competitive bids Wednesday on $302 million of general obligation bonds with a $250 million taxable appropriation-backed sale waiting in the wings.

Coralville's fiscal struggles drove Moody's Investors Service to sharply downgrade the Iowa city's water and sewer revenue bond ratings.

The November ballot in Illinois will ask voters if the state constitution should be amended to require a three-fifths vote by the General Assembly or a local government to enhance public pension benefits.

Chicago will seek independent audits to assess the operational and financial management of its asset leases beginning with its controversial $1.15 billion 2009 parking meter concession contract.

Chicago Mayor Rahm Emanuel is pressuring state lawmakers to adopt pension reforms to shore up the city's underfunded employee retirement obligations.

Chicago Mayor Rahm Emanuel on Friday replaced his hand-picked schools chief after just 17 months on the job with the district's interim chief education officer in a move that comes shortly after a bruising teachers' strike that has taken a toll on the district's bond ratings

Chicago Mayor Emanuel rolled out an $8.3 billion budget for 2013 that closes a $300 million deficit without tax hikes, but he also painted a stark picture of the fiscal reckoning in 2015 when pensions will consume $1.2 billion of revenue.

Moody's Investors Service has revised its outlook to negative on Des Moines' Aa2 sewer enterprise bond rating.