Yvette Shields

CHICAGO — The Illinois Supreme Court on Tuesday granted the state’s request for a temporary stay against enforcement of a lower court decision invalidating the state’s $31 billion capital budget and the funding streams that support capital borrowing.

CHICAGO — Chicago Mayor Richard Daley will meet with executives at American Airlines and United Airlines Thursday as a legal standoff over $3.36 billion worth of expansion projects at O’Hare International Airport drags on.

The Green Bay-Brown County Professional Football Stadium District earlier this month announced plans to prepay in February some of the bonds it issued for the 2003 renovation of Lambeau Field, putting the district on track to fully retire its bonds later this year.

The Yorkville City Council last week voted against asking residents to cover a $264,000 shortage in revenue needed in the city’s sewer fund to cover debt payments coming due next year, according to published reports.

Gov. Pat Quinn last week signed Medicaid reform legislation aimed at saving Illinois at least $624 million over five years.

CHICAGO — The University of Minnesota enters the market Tuesday with $388 million of general obligation bonds to raise funds for various projects and reduce its floating-rate exposure by refunding debt.

CHICAGO — New Minnesota Gov. Mark Dayton called on lawmakers Monday to support a proposed $1 billion capital bonding budget he billed as an economic stimulus package needed to create jobs while improving infrastructure.

Chicago wants more time to improve the funded status of its fire and police pension funds and increase employee contributions in order to reduce the burden on taxpayers of reforms signed into law by Gov. Pat Quinn earlier this year.

CHICAGO — Allowing a lower court ruling invalidating Illinois’ $31 billion capital budget to take effect would “wreak havoc” on state operations and finances, the attorney general’s office warned Friday in its request that the state Supreme Court stay the decision.

CHICAGO — Chicago has backed off from its plan to sell $1.1 billion of O’Hare International Airport bonds next week as it fights a lawsuit filed by the airport’s two largest carriers challenging its authority to finish work on an $8 billion expansion plan without airline consent.

CHICAGO — Iowa’s new governor, Terry Branstad, unveiled a nearly $6.2 billion budget for fiscal 2012 that trims more than $700 million in spending while maintaining healthy reserve levels and providing tax relief for businesses.

CHICAGO – The Illinois Appellate court on Wednesday struck down the 2009 law that established the funding streams to repay borrowing for a $33 billion public works program, delivering a blow to the state’s efforts to stabilize its finances while also paying for infrastructure projects.

CHICAGO — In a move prompted by the Securities and Exchange Commission’s heightened scrutiny of pension-disclosure practices, Illinois unveiled overhauled reporting standards in its latest bond offering statement that also announced a rise in unfunded pension liabilities to $75.7 billion and revealed a pending SEC inquiry.

Minnesota Gov. Mark Dayton has named Mary Tingerthal, currently president of Capital Markets Companies for the Housing Partnership Network, to serve a four-year term as commissioner of the Minnesota Housing Finance Agency.

Chicago mayoral hopeful Rahm Emanuel received word Tuesday from the Illinois Supreme Court that it will hear his appeal of a state appellate panel decision removing him from the Feb. 22 ballot because he failed residency requirements.

CHICAGO — Attorneys for Chicago and O’Hare International Airport’s two largest carriers will return to court next month as a standoff over the final phase of an $8 billion expansion plan continues.

CHICAGO — The pressure on Illinois’ credit eased Friday as Fitch Ratings revised its outlook on the state’s general obligation rating to stable from negative in recognition of moves to raise the income tax by two-thirds and temporarily limit spending increases.

CHICAGO — Missouri Gov. Jay Nixon unveiled a $23.1 billion budget for fiscal 2012 that relies on spending and job cuts and modest debt-restructuring savings to compensate for the end of federal stimulus funds, as officials anticipate a return to revenue growth.

CHICAGO — New Wisconsin Gov. Scott Walker hasn’t released a proposed fiscal 2012-13 budget to address a $3.3 billion deficit, but Standard & Poor’s is confident the state will close the gap and maintain its current AA rating due to its “financial discipline.”

CHICAGO — The Illinois Finance Authority advanced plans this week for $200 million in borrowing to finance new, privately developed student residential facilities at two state universities.