Yvette Shields

Moody’s Investors Service has downgraded the Columbus School District one notch to A1 ahead of its $1.5 million issue that will refund a Wisconsin state trust fund loan.

The owners of the St. Louis Rams last week rejected the St. Louis Convention and Visitors Center’s proposed $124 million plan to upgrade the team’s Edward Jones Dome stadium, which relied on $60 million of public funding.

The Illinois Health Facilities and Services Review Board last week approved Naperville-based Edward Hospital’s $64 million expansion plan.

The head of the nonpartisan Center for Tax and Budget Accountability last week called on lawmakers to end Illinois’ flat income-tax rate and shift to a graduated tax based on income levels.

CHICAGO — Six months after hosting its first investor conference, Chicago is inviting the buy-side community back on April 26 to update market participants on how the city and its sister agencies are dealing with their fiscal challenges.

In what is billed as a first-of-its-kind financing vehicle for municipal infrastructure, Chicago Mayor Rahm Emanuel unveiled a new trust program that will tap private investment to help fund more than $1 billion worth of projects.

CHICAGO — Bank of America NA sued the St. Louis-based Jewish Community Center last week, alleging the nonprofit has withheld more than $4 million it owes the bank as a tactic to win more favorable terms on the repayment of $45 million of bonds held by the bank.

Billed as the first-of-its-kind financing vehicle for municipal infrastructure, Chicago Mayor Rahm Emanuel unveiled a new trust program on Thursday that will tap private investment to help fund projects.

Minnesota Gov. Mark Dayton unveiled plans for a new $975 million Vikings stadium in downtown Minneapolis that relies on a team contribution and local and state funds.

CHICAGO — The trustee for $39 million of defaulted appropriation-backed bonds issued for a failed artificial sweetener plant in Moberly, Mo., won't tap dwindling reserves to cover the March 1 debt service payment.

Three months into its Chapter 11 bankruptcy, American Airlines Inc. has begun to show its hand to investors holding $3.2 billion of the carrier's special facilities revenue bonds by making good — at least for now — on some debt-related payments while moving as expected to shed other obligations.

CHICAGO — With its economy on the mend, Minnesota now expects to collect an additional $323 million in its current two-year budget cycle based on its annual February revenue forecast.

A Missouri House panel held a hearing Monday on a series of bills that, if enacted, would affect future borrowing by local governments for economic development projects.

Standard & Poor’s has revised its outlook on Western Illinois University’s A rating to stable from negative as analysts’ concerns over Illinois state aid delays have eased.

Moody’s Investors Service last week downgraded Elmhurst Memorial Healthcare’s rating one notch to Baa2 due to the Illinois hospital operator’s modest operating performance for fiscal 2011 and the first half of fiscal 2012.

Chicago Mayor Rahm Emanuel and City Colleges of Chicago officials announced a $479 million, five-year capital program last week that relies on $274 million of future borrowing.

CHICAGO — The St. Paul Port Authority is set to issue a tender invitation in April to holders of the remaining $51.7 million of defaulted industrial revenue bonds as agreed to under a class action settlement aimed at resolving five-year-old litigation over the troubled 876 Bond Fund.

CHICAGO — The Rochester, Minn.-based Mayo Clinic plans to enter the market this spring to borrow roughly $200 million of new money for projects as part of the clinic's plans to spend $700 million annually on capital improvements over the next five years.

CHICAGO — Three years after holders of $98 million of revenue bonds took ownership of the St. Louis convention center hotel complex, more than 50 potential buyers have expressed an interest in taking the hotels off their hands, according to the trustee.

Warning lawmakers that their toughest task ahead is overhauling Medicaid and pensions, Illinois Gov. Pat Quinn unveiled a $33.9 billion fiscal 2013 general fund budget that holds spending in check through layoffs and state facility closures while leaving billions in unpaid bills.