Yvette Shields

CHICAGO — North Dakota voters overwhelmingly rejected a ballot measure Tuesday to abolish property taxes, allowing local governments to breathe a sigh of relief, since the measure had posed a challenge to their fiscal and debt management.

A court hearing is set Wednesday morning on a lawsuit filed by Detroit’s top lawyer challenging the two-month old consent agreement with Michigan designed to stabilize Detroit’s finances.

Fitch Ratings slapped a beleaguered Detroit with a downgrade to CCC Tuesday as Mayor Dave Bing ordered the city’s top lawyer to drop a lawsuit challenging the two-month old consent agreement between the city and Michigan.

Charity care is on the rise at Missouri hospitals and that increase is not expected to abate due to lower Medicaid enrollment and job losses due to the economy, according to a report released last week.

Proctor Hospital’s rating has sunk deeper into junk-bond territory and the Illinois health care provider could still fall further due to its ongoing operating struggles.

Dixon, Ill., has sued the city’s auditors for failing to uncover former Treasurer Rita Crundwell’s alleged embezzlement of more than $50 million.

CHICAGO — The Regional Transportation Authority of Illinois will sell $300 million of two-year working cash-flow notes Wednesday, rolling over some existing short-term paper while also raising funds to weather the state’s chronically late aid payments.

First-term Chicago Mayor Rahm Emanuel is banking on billions of infrastructure investment and government operating reforms, with some help on both fronts from the private sector, to help re-invigorate the city's economy.

CHICAGO – A review of secondary market trade data and credit default swap spreads on Wisconsin paper detected some market anxiety leading up to Tuesday's recall election of Gov. Scott Walker, but it did not reveal any widespread angst or change in the value of a state general obligation bond, according to figures compiled by Interactive Data Corp.

CHICAGO – State and local governments will need to muster attention on the federal threat to tax-exemption and should seize upon the sea change of public support to tackle tough issues like retirement benefit cuts afforded by the fiscal struggles of recent years.

Illinois Gov. Pat Quinn and legislative leaders failed to resolve their differences on stalled pension reforms following a meeting this week as Standard & Poor's sent the message that a reckoning looms over the strain of massive pension obligations on the state's balance sheet.

CHICAGO — Illinois received a reprieve from Standard & Poor’s Wednesday over its failure to act on pension reforms during its spring legislative session, but the agency renewed its message that the clock is still ticking on its negative view of the state and its mammoth pension woes.

CHICAGO — Wisconsin Gov. Scott Walker survived a historic recall election Tuesday that was sparked last year by his move to curtail unions’ collective bargaining rights.

The Metropolitan Pier and Exposition Authority of Illinois hits the market with $844 million of revenue bonds in a deal that will raise new money for projects, generate double-digit refunding savings, and accomplish the second leg of an ongoing restructuring of its debt service schedule.

The public agency that operates the Edward Jones Dome last week shot down the St. Louis Rams’ counterproposal for renovations to its stadium.

Fitch Ratings has upgraded Olmsted Medical Center’s rating one notch to BBB-plus from BBB in recognition of the Minnesota hospital’s strong financial performance.

The Illinois Housing Development Authority said its sale of $19 million of multifamily housing bonds would finance a 144-unit supportive housing development south of Chicago for seniors.

City Colleges of Chicago chief financial officer Kenneth Gotsch has resigned to take over the financial reins of Columbia College Chicago.

CHICAGO — The Metropolitan Council of the Twin Cities of Minnesota enters the market this week and returns later in the month with more than $400 million of new-money and refunding general obligation bonds that offer investors top-rated tax-exempt and taxable paper.

CHICAGO – The Chicago Transit Authority Friday unveiled plans for a $500 million overhaul of its bus fleet by 2014.