Yvette Shields

Outgoing Gov. Tim Pawlenty last week named Steve Sviggum to serve as the state’s top fiscal officer, replacing Tom Hanson as commissioner of the Minnesota Management and Budget office in the last days of the Republican governor’s administration.

Moody’s Investors Service has downgraded its rating on North Memorial Health Care and Maple Grove Hospital to Baa1 from A3 and warned of further action by assigning a negative outlook due to the system’s fiscal struggles in fiscal 2010 and uncertainty over whether improvements can be achieved in fiscal 2011.

CHICAGO — Two Midwestern joint-power agencies will enter a crowded field of borrowers this week with deals that include a mix of tax-exempt securities and taxable Build America Bonds to finance their share of $1 billion in cost overruns for the Prairie State Energy Campus.

CHICAGO — With headlines over its budget struggles and recent rating downgrades subsiding, Chicago plans this week to sell a good chunk of a $804 million new-money and refunding general obligation issue that was put on hold earlier this month.

CHICAGO — The Illinois Railsplitter Tobacco Settlement Authority yesterday received A-level ratings from Standard & Poor’s on its $1.46 billion issue of tax-exempt tobacco bonds set for next week.

Moody’s Investors Service affirmed the Western Minnesota Municipal Power Agency’s A1 rating and revised its outlook to positive from stable ahead of a $140 million new-money and refunding sale to finance its share of transmission expansion projects.

Moody’s Investors Service affirmed the Minnesota Municipal Power Agency’s A3 rating but revised its outlook to stable from positive ahead of a $100 million revenue bond sale slated for next week.

A Cook County Circuit Court judge earlier this month denied Chicago’s motion to dismiss a lawsuit that challenges the legality of its $1.15 billion, 75-year lease of its parking meter system to Chicago Parking Meters LLC.

CHICAGO — Wisconsin’s budget deficit going into the next fiscal biennium ranges from $1.5 billion to $3 billion, depending on who is interpreting the figures.

CHICAGO — Minnesota’s Counties Transit Improvement Board last week advanced plans for a $110 million bond sale by Hennepin County that would mark the first borrowing repaid by a special quarter-cent sales tax imposed in 2008 on the five-county Twin Cities region to support transit.

CHICAGO — Hoping to capitalize on the lull in supply slated for this week, Wisconsin will take competitive bids Monday on $200 million of transportation revenue bonds in a deal that includes a mix of tax-exempt securities and taxable Build America Bonds.

CHICAGO — The Metropolitan Water Reclamation District of Greater Chicago board of commissioners on Thursday advanced the plans for a $500 million sale of mostly Build America Bond in mid-December, though officials said the timing, size, and mix of securities hinge on interest rates.

CHICAGO — The Chicago City Council overwhelmingly approved Mayor Richard Daley’s $6.15 billion budget for 2011, with only a handful of members attacking it as fiscally irresponsible because of a heavy reliance on reserves and other one-shots to eliminate a $654 million deficit without tax increases.

CHICAGO — The Metropolitan Water Reclamation District of Greater Chicago is expected to vote Thursday on an underwriting team, led by JPMorgan, for its sale next month of up to $500 million of mostly taxable Build America Bonds.

CHICAGO — The Illinois Municipal Electric Agency plans to enter the market Thursday with $130 million of mostly taxable Build America Bonds to finance its share of $1 billion in cost overruns for the controversial $4 billion Prairie State coal-fired power plant under construction in Washington County, Illinois.

CHICAGO — Chicago Mayor Richard Daley on Tuesday named Terry Mazany, the head of a prominent city community foundation, to lead the Chicago Public Schools system on an interim basis as the city awaits election of a new mayor next year.

The Missouri Highways and Transportation Commission recently named engineer Kevin Keith as director of the Missouri Department of Transportation.

Moody’s Investors Service has revised its outlook on Edward Health Services Corp.’s A2 rating to positive from stable in recognition of its improving operations, affecting $282.4 million of debt.

Moody’s Investors Service has upgraded Rush University Medical Center’s Obligated Group rating by one notch to A2 due to its improved operating performance in recent years.

The Federal Aviation Administration on Monday said it would fund the design and construction of a second new control tower at O’Hare International Airport as part of an $8 billion runway expansion.