Yvette Shields

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.

CHICAGO – Wisconsin enters the market as soon as Wednesday with about $365 million of general obligation refunding bonds designed to capture both traditional interest-rate savings and to accomplish a debt restructuring for budgetary relief.

CHICAGO — Missouri economic development officials and financial firms failed to conduct adequate due diligence on an artificial sweetener project in Moberly, lawmakers concluded in a report issued last week after a series of hearings probing the now abandoned, bond-financed project.

Moody’s Investors Service upgraded Heartland Regional Medical Center’s underlying rating by one notch to A1, citing strong operating profitability.

Moody’s Investors Service has upgraded the Illinois Housing Development Authority’s housing bond program to Aa3 from A1 in recognition of its strong financial position reflected in an asset-to-debt ratio of 149%.

Fitch Ratings recently upgraded the debt of Illinois’ Regional Transportation Authority to AA as part of its review of tax-supported debt enterprises with an increased focus on operating risk and other factors.

Illinois Gov. Pat Quinn last week announced the award of $623 million in state funds for school district projects.

CHICAGO — Strapped for traditional funding to renovate one of its aging light-rail lines, the Chicago Transit Authority has hired Goldman, Sachs & Co. and two other firms as advisors to explore alternative financing options, including a public-private partnership.

Wisconsin-based Michael Best & Friedrich LLP has hired public finance attorney Gregory Tears for its Milwaukee office as part of the firm's ongoing effort to rebuild its bond counsel and underwriters' counsel business.

Chicago finance officials submitted to the City Council bond ordinances seeking approval to sell more than $3 billion of new-money and refunding general obligation, water revenue, and O'Hare International Airport debt this spring.

Chicago-based Mesirow Financial Inc. has named senior managing director Dominick Mondi president of its fixed-income capital markets division, a new position established to better coordinate the work of the institutional sales and trading, public finance, and credit tenant-lease finance groups.

CHICAGO — The Illinois Finance Authority on Tuesday advanced St. Louis-based Ascension Health Alliance's plans to issue up to $600 million of new-money and refunding debt tied primarily to its recent acquisition of Alexian Brothers Health System in suburban Chicago.

Missouri Gov. Jay Nixon last week said any plan to implement tolls on Interstate 70 to fund its rebuilding should go before voters.

Ramsey County last week released a revised plan for a new Minnesota Vikings professional football stadium that relies on parking revenue, naming rights, an admission fee and hospitality taxes to cover its $300 million share of the $1.1 billion price tag.

Moody’s Investors Service has downgraded Davenport, Iowa’s general obligation bond rating one notch to Aa2 ahead of its sale of $31.3 million of new debt.

Chicago Mayor Rahm Emanuel and Cook County Board President Toni Preckwinkle last week said the two governments saved $20.5 million by collaborating in some areas over the last six months of 2011.