Yvette Shields

CHICAGO - With its appointment as bond counsel on Minnesota's upcoming tobacco and general obligation bond sales still fresh, Omaha, Neb.-based Kutak Rock LLP has expanded its physical reach into the state with the opening of an office staffed with two veteran public finance attorneys.

Minnesota’s general obligation offering statements have long opened with the line, “In the opinion of Dorsey & Whitney LLP” — whose namesake Arthur B. Whitney Jr. helped revise the state constitution to allow GO bond issuance. That decades-long tradition will end with the state’s next sale.

CHICAGO — The Illinois State Toll Highway Authority board Thursday approved a $12 billion, 15-year capital program that relies on a steep increase in passenger tolls to repay $4.8 billion in borrowing and raise cash to maintain and expand its existing 286-mile system.

CHICAGO — Illinois Gov. Pat Quinn this week signed legislation that paves the way for the state's future use of public-private partnerships to finance transportation projects, a change supporters hope will jump-start proposed projects that lack public funding.

CHICAGO — Chicago and the Illinois Regional Transportation Authority filed lawsuits Tuesday against the cities of Kankakee and Channahon for their roles in tax-sharing agreements with retail companies that allow them to avoid collecting the Chicago area's higher sales tax rates.

CHICAGO — Missouri Gov. Jay Nixon has formally called for a special session of the General Assembly beginning on Sept. 6 and set an agenda that calls for passage of measures to promote job creation and tax-credit reforms.

CHICAGO — Ahead of the Chicago Board of Education's expected vote Wednesday on a new $5.9 billion budget, a local watchdog group endorsed the plan to eliminate a $712 million deficit through cuts, use of reserves, and a property tax hike, but warned of a looming fiscal crisis unless the district overhauls its spending habits.

Moody's Investors Service put Western Missouri Medical Center's MIG-1 rating on $46.6 million of notes on negative watch for a possible downgrade due to a change in how the rating agency analyzes support under the U.S. Department of Agriculture's Rural Development loan program.

Minnesota last week completed its sale of $60 million of revenue bonds to raise funds for the ongoing construction of a statewide communications system known as the Allied Radio Matrix for Emergency Response system, or ARMER.

Moody's Investors Service last week affirmed Central College's low investment-grade underlying rating of Baa3 as it warned that a downgrade could loom due to challenges tied to thin liquidity coverage of its floating-rate debt.

The state-appointed Budgeting for Results Commission, charged with making recommendations on how to better manage the Illinois budgeting process with an eye towards achieving better results, held its first meeting late last week.

CHICAGO — Chicago Mayor Rahm Emanuel marked his first 100 days in office Monday by highlighting his progress in cutting city spending and implementing reforms aimed at improving government operations and public transparency.

CHICAGO - Public hearings began Thursday on the Illinois State Toll Highway Authority's proposed 15-year, $12 billion, partially bond-financed capital program ahead of a possible board vote next week at which one board member will push an alternative.

CHICAGO - Novi, Mich.-based Trinity Health Corp. received preliminary approval from the Illinois Finance Authority board this week for its planned sale of about $550 million of debt tied to its recent acquisition of Loyola University Health System in suburban Chicago.

CHICAGO - Chicago-based Loop Capital Markets LLC has parted ways with Alexander Rorke, who has led its public finance banking group since his hiring in fall 2009.

Chicago-based Loop Capital Markets LLC has parted ways with Alexander Rorke, who has led its public finance banking group since his hiring in fall 2009.

Stifel Financial last week announced preliminary plans to purchase its current headquarters in downtown St. Louis and seek some public funds to support it.

Standard & Poor's this week upgraded Allina Hospitals & Clinics rating one notch to AA-minus due to its strong operations.

Moody's Investors Service raised its rating on the Northwestern Medical Faculty Foundation by one notch to A1, affecting $75 million of debt, due to its increasingly close affiliation with Northwestern Memorial Hospital and Northwestern Feinberg School of Medicine and an improving fiscal position.

CHICAGO — St. Petersburg, Fla.-based Raymond James & Associates is hoping to carve out a bigger chunk of senior-manager business in the Midwest with two new public finance hires in Chicago, one to bolster the firm's local government team here and the other to focus on large governmental issuers.