Yvette Shields

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.

A dispute between Gov. Pat Quinn and Chicago Mayor Rahm Emanuel over who should lead the Illinois Sports Facilities Authority escalated this week when the governor accused the mayor of tarnishing the reputation of his pick.

After a teacher strike, Chicago Public Schools will cover this year's $103 million price tag for the labor contract in part with debt restructuring and capitalized interest bond proceeds.

The Art Institute of Chicago plans to enter the market as soon as Wednesday to sell a mix of taxable new-money and tax-exempt refunding bonds that will reduce the museum's floating-rate risks and allow it to accelerate its pension funding plans.

Chicago Teachers Union members overwhelming approved the new four-year, $295 million contract that ended a seven-day strike last month but will further strain the already cash-strapped district.

Chicago-based veteran analyst Peter Stettler has joined the municipal credit analytic team at BMO Capital Markets.

Fitch Ratings hit Milwaukee with a one notch downgrade to AA as the city faces lingering economic stress with just restricted powers to raise revenues and limited reserves.

Cash-strapped Illinois will pocket $165 million for selling its empty Thomson Correctional Center to the federal government.

The Missouri Development Finance Board recently approved $17 million in borrowing that will help pave the way for construction to begin next month on the long-planned, but stalled, Ballpark Village project adjacent to the St. Louis Cardinals’ Busch Stadium.

Moody’s Investors Service lowered Monticello, Minn.’s rating due to the city’s declining financial position due in part to its support of its telecommunications utility.

The Chicago Public Schools took its fourth ratings blow of recent months when Fitch Ratings lowered its rating to A after a teachers strike.

From double-paging copies to reducing paid holidays, there's no shortage of ideas on how to improve Chicago's fiscal health pouring into Mayor Rahm Emanuel's office as his finance team readies a more than $6 billion 2013 spending plan.

The Illinois Sports Facilities Authority may refund bonds sold for Chicago's Soldier Field to ease the risk that Chicago will be called on to backstop debt service.

Moody's Investors Service hit the Chicago Public Schools' $6.4 billion of debt with its second downgrade in recent months and underscored its dim view of the credit by leaving it with a negative outlook as the district struggles with mounting fiscal challenges.

Illinois has submitted a draft airport layout plan to the FAA for a third regional airport to be located far southwest of Chicago. The airport has long been discussed but its advances have come slowly.

The Rahm Emanuel-backed Chicago Infrastructure Trust lined up pro bono help from Public Financial Management Inc. and Kirkland Ellis LLP as it plans its first project financing later this year.