Yvette Shields

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.

CHICAGO - With new budgets to fund and the start of the school year around the corner, the season of short-term borrowing is in full swing for Minnesota school districts grappling with heightened liquidity challenges following the state's adoption of a budget that further delays some aid payments.

CHICAGO - One day after being accused of fraud by the Securities and Exchange Commission for its role in advising five Wisconsin school districts on a risky investment scheme, Stifel Financial Corp. said it has finalized an agreement to purchase $162.5 million of school district-supported notes from Depfa Bank Plc.

CHICAGO - Stifel Nicolaus & Co. and a former senior executive fraudulently misled five Wisconsin school districts by steering them into unsuitably risky and complex investment products to fund their non-pension retirement obligations, the Securities and Exchange Commission charged in a complaint filed Wednesday.

Wisconsin last week put $233 million back into its patient compensation fund, returning a controversial transfer that helped balance previous state budgets.

The Missouri House’s Budget Committee chairman last week proposed that the state dip into its reserves to pay for recovery efforts from recent weather-related disasters, according to published reports.