Yvette Shields

CHICAGO — The Lombard Public Facilities Corp. in Illinois has extended until Thursday its tender invitation to holders of $144 million of revenue bonds issued to help finance its hotel and conference center.

New Cuyahoga County Executive Ed FitzGerald has tapped a former Franklin County treasurer to serve as the top fiscal officer under a reorganized government.

Standard & Poor’s has affirmed the AA-minus assigned to Columbia’s water and electric system revenue bonds while revising the outlook to positive from stable due to Columbia Water and Light’s improved financial position.

Moody’s Investors Service has affirmed its A2 first-lien and A3 second-lien ratings assigned to Midway Airport’s $1.4 billion of outstanding bonds in conjunction with Chicago’s replacement of a swap agreement on a portion of Midway’s debt portfolio.

Chicago Mayor-elect Rahm Emanuel has decided to leave in place Martin Cabrera, head of the Chicago-based investment bank Cabrera Capital Markets LLC, as chairman of the City Colleges of Chicago board and Cheryl Hyman as executive director of the system.

Chicago is accepting requests for information and interest through July 26 for development of a rapid passenger-rail system connecting downtown with O’Hare International Airport.

CHICAGO — Philadelphia-based PNC Capital Markets LLC has hired Kevin Hoecker from Chicago-based financial advisory firm Scott Balice Strategies LLC to lead its push for a bigger chunk of business from Illinois borrowers and their neighbors.

With an airline lawsuit behind it and structural tinkering completed, Chicago will enter the market this week with $1.1 billion of mostly new-money revenue bonds to finance the next phase of projects under an $8 billion expansion program at O'Hare International Airport.

CHICAGO — Drawing deeply from the public finance industry well, Chicago Mayor-elect Rahm Emanuel on Wednesday announced a finance team led by advisory professional Lois Scott and supported by a project finance lawyer and public sector banker, both with previous government experience.

CHICAGO — Two senior staff members of the Illinois Housing Development Authority have moved into leadership roles, with longtime general counsel Mary Kenney taking over as executive director, and deputy chief financial officer Hazim Taib replacing Robert Kugel in the agency’s top fiscal post.

Heartland Regional Medical Center received positive credit news from both Fitch Ratings and Moody’s Investors Service.

Iowa Gov. Terry Branstad last week made good on his promise to reject any one-year spending bills by vetoing a measure that provided about $350 million for transportation programs in fiscal 2012.

The Democratic majority in the Illinois General Assembly last week approved a spending bill that allocates $7.8 billion to cover fiscal 2012 state pension contributions and pension debt payments.

CHICAGO — Chicago-based financial adviser Lois Scott — a co-founder of Scott Balice Strategies LLC — will leave the firm to join Chicago Mayor-elect Rahm Emanuel’s administration as the city’s top fiscal officer when he takes office next month, several public finance sources said Monday.

Rochester, Minn.-based Mayo Clinic will enter the market Wednesday and shift $290 million of variable-rate securities to a fixed-rate structure to open up room in its debt portfolio for future floating-rate debt that would finance two proton therapy centers.

Chicago Mayor-elect Rahm Emanuel on Monday tapped the head of the Rochester City School District to lead the Chicago Public Schools and left in place the current chief financial officer, Diana Ferguson.

CHICAGO — Jury selection will begin Wednesday in the retrial of former Illinois Gov. Rod Blagojevich on federal corruption and pay-to-play charges following a judge’s refusal last week to grant the defense’s request for a delay.

CHICAGO — The Illinois Finance Authority expects to launch a program in the coming months that links state Medicaid providers with private investors willing to purchase overdue payment vouchers in case lawmakers fail to act on Gov. Pat Quinn’s $2 billion borrowing plan to ease the state’s liquidity crisis.

CHICAGO — Chicago-based management and consulting firm Development Specialists Inc. is expanding its reach in the muni finance arena with a new venture targeted at severely distressed municipalities and other governments in need of restructuring services.

CHICAGO — Since its creation by the Wisconsin Legislature last year, the Public Finance Authority is spreading the message that while it may have a northern address, its boundaries as a conduit issuer extend across the country.