Yvette Shields

CHICAGO - Illinois Gov. Pat Quinn on Friday signed legislation authorizing the issuance of up to $2.4 billion in revenue bonds to pay off federal loans to fund the state's unemployment insurance program.

CHICAGO - Decatur, Ill.-based Archer Daniels Midland Co., the world's largest grain processor, has requested an allocation of up to $200 million of Midwestern disaster-area revenue bonds through the Iowa Finance Authority for improvements at its Iowa processing facilities.

CHICAGO - Almost out of cash to keep operating, an upscale retirement facility in downtown Chicago financed with $229 million of bonds filed for Chapter 11 bankruptcy this week after the failure of negotiations with a group of investors aimed at buying the facility breathing room.

CHICAGO - The Chicago City Council Wednesday unanimously approved Mayor Rahm Emanuel's rookie budget, a $6.3 billion spending plan for 2012 that eliminates a $635 million gap with layoffs, cuts, debt restructuring, and a series of tax, fine and fee increases.

CHICAGO - With federal funding and gasoline tax revenue falling far short of meeting demand for transportation infrastructure, sector participants need to do a better job selling the public and political leaders on the perks of investment and the pitfalls of inaction.

CHICAGO - With a deal for a new partially bond-financed Vikings football stadium stalled over site and public-funding issues, Minnesota Gov. Mark Dayton this week laid out a revised game plan he hopes will lead to a vote this year on a stadium package.

Wisconsin Gov. Scott Walker last week signed legislation creating the elected post of comptroller in Milwaukee County to manage debt, audits, and other fiscal manners.

Voters in Jackson and Clay counties last week easily approved a one-eighth cent sales tax to raise new revenue for the 100-year-old Kansas City Zoo.

Chicago Mayor Rahm Emanuel and Chicago Transit Authority president Forrest Claypool last week unveiled the first of hundreds of new rail cars.

Illinois lawmakers wrapped up a two-week veto session late last week by approving a package that authorizes $2.4 billion in revenue bonding authority to end the state's reliance on federal loans to fund its unemployment insurance program.

Minnesota aims to cast off headline risks tied to the tobacco sector next week when it sells $787.6 million of tobacco bonds by using a conservative structure that limits final maturities and ensures bondholders are paid even if cigarette consumption dips far more annually than expected.

CHICAGO - The Illinois Finance Authority board signed off on three new financings at its meeting Tuesday, including the first to take advantage of its new cross-border conduit issuance powers.

Moody’s Investors Service downgraded Manitowoc two notches to A1 from Aa2 and assigned a negative outlook due to its structural budget imbalance.

Wisconsin’s not-for-profit hospitals last year generated $28 billion in economic activity and provided $1.4 billion in community benefits, according to new studies.

Illinois Gov. Pat Quinn and Chicago Mayor Rahm Emanuel announced last week the $1 billion reconstruction of the Chicago Transit Authority’s busy Red Line.

Moody’s Investors Service upgraded the Waubonsee Community College District 516 one notch to Aa1 in recognition of its large and growing tax base and strong fiscal position.

CHICAGO - The trustee for $39 million of appropriation-backed bonds sold by a Moberly, Missouri, to help finance an artificial sweetener factory has filed a federal lawsuit against the Chinese company that abandoned the half-built project and defaulted on its city payments to cover debt service.

CHICAGO - Chicago enters the market this week with $412 million of new-money general obligation bonds ahead of an expected vote next week on Mayor Rahm Emanuel's first spending plan.

CHICAGO - The debt burden of state and local government borrowers in Iowa rose in fiscal 2011 by 6.6% to $13.8 billion, according to a report published last week by Treasurer Michael Fitzgerald's office.

CHICAGO - Novi, Mich.-based Trinity Health's possible acquisition of the stand-alone, 159-year-old Mercy Health System, based in Chicago, last week advanced when the two Catholic health care providers announced they had signed a nonbinding letter of intent to negotiate a union.