Yvette Shields

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.

Moody’s Investors Service last week called Menasha’s settlement with holders of its defaulted steam plant notes, and the sale-leaseback of its electric utility assets to help fund the agreement, “positive developments for the city’s credit profile.”

Standard & Poor’s last week affirmed Missouri’s top credit marks.

Former Iowa Gov. Chet Culver has formed a business consulting firm that seeks to promote his experience in infrastructure development and renewable energy.

Moody’s Investors Service this week put Loyola University Chicago’s A3 rating on watchlist for a possible upgrade in recognition of the positive impact on its credit profile expected from the school’s upcoming sale of its health system.

CHICAGO — Fitch Ratings affirmed O’Hare International Airport’s third-lien general airport revenue bond rating and raised its passenger facility charge-backed credit as Chicago prepares to enter the market next week with $1.1 billion of airport bonds.

CHICAGO — Illinois escaped short-term “financial catastrophe” by raising the income tax and using a one-time infusion of cash from two bond sales and a tax amnesty, but challenges persist as overdue bills mount and debt service is on the rise, Comptroller Judy Baar Topinka warned in her office’s quarterly report published Friday.

CHICAGO — State legislation paving the way for a partially bond-financed, publicly subsidized stadium for the National Football League’s Minnesota Vikings is expected to be formally introduced on Monday to a mixed reception.

CHICAGO — Iowa’s Xenia Rural Water District has proposed a five-year restructuring plan that calls for investors who hold $83 million of revenue bonds to receive full payment. However, it hinges on the willingness of other creditors to “share in the pain” of restoring the district to fiscal solvency by forgiving some debt, said interim executive director Marc DeLong.

CHICAGO — The efforts of five Wisconsin school districts to recoup their ill-fated $200 million investment in collateralized debt obligations have received reinforcement in the form of possible Securities and Exchange Commission action against an investment bank for its role in the transaction.

CHICAGO — Kansas City, Mo., and St. Louis officials were breathing easier Wednesday after voters in both municipalities overwhelmingly endorsed the continued collection of a 1% tax on wages and salaries.

CHICAGO — Menasha, Wis., expects to close Wednesday on the sale of its electric utility assets to WPPI Energy in an $18 million sale-leaseback transaction to provide the bulk of funds needed to cover the city’s proposed settlement with holders of $23 million of defaulted steam plant notes.

CHICAGO — Wisconsin Gov. Scott Walker’s long-stalled plan to restructure $165 million of debt to eliminate a shortfall in the current budget won legislative approval Tuesday and will go before the State Building Commission Wednesday as officials work to complete the deal before an April 14 deadline.

Standard & Poor’s has revised the outlook on Lambert St. Louis International Airport’s A-minus rating to negative from stable due to weak debt-service coverage levels.

Missouri Gov. Jay Nixon last week announced plans to submit applications seeking nearly $1 billion in federal high-speed and intercity passenger rail funds.

The Illinois Senate has advanced a proposed consolidation of the state treasurer and comptroller’s offices.