Yvette Shields

CHICAGO — Minnesota will competitively sell $291 million of water-related state revolving fund bonds Tuesday, followed closely by a $164 million clean water issue from neighboring Wisconsin, as both seek to tap the Build America Bond program ahead of its expiration this year.

CHICAGO — Chicago will enter the market this week with $280 million of new-money and refunding wastewater revenue bonds and follow up next week with $500 million of new-money and refunding water revenue debt. The deals will include Build America Bonds and qualified energy conservation bonds.

CHICAGO — Retiring Chicago Mayor Richard Daley has tapped Martin Cabrera Jr., head of Cabrera Capital Markets LLC, to lead the City Colleges of Chicago board following the resignation last week of Gery Chico, who plans to focus on his 2011 bid for mayor.

CHICAGO — Some states may face a severe pension-fund reckoning, but the problems are manageable if lawmakers act now to address them through a combination of increased contributions and benefit cuts, according to Loop Capital Markets LLC.

CHICAGO — The Missouri Highways and Transportation Commission will take competitive bids Wednesday on a $140 million refunding of top-rated senior-lien state road bonds in hopes of achieving about 6% to 7% in present-value savings.

CHICAGO — Illinois Gov. Pat Quinn on Wednesday announced that $270 million from recent bond sales will go to 18 school districts, including $54 million for the Chicago Public Schools, for projects approved as part of the state’s multi-year, $31 billion capital program.

CHICAGO — Dane County — home to Wisconsin’s capital city of Madison — lost its AAA general obligation rating from Fitch Ratings as it grapples with operating deficits that city officials hope to reverse next year.

CHICAGO — Minnesota Gov. Tim Pawlenty this week signed legislation ­providing $80.3 million in aid to ­designated federal disaster areas rocked by floods in late September and storms and tornadoes in June.

The Southern Minnesota Municipal Power Agency won a one-notch upgrade to A1 from Moody’s Investors Service ahead of its sale this month of $75 million of revenue bonds. The upgrade also affected $600 million of outstanding debt.

Standard & Poor’s raised its issuer credit rating on Rockford Independent School District No. 883 by one notch to AA-minus in recognition of its growing reserve levels and increased state aid levels that have followed the stabilization of its enrollment.

Moody’s Investors Service has pushed Keokuk Area Hospital’s rating on $5.4 million of debt further into junk bond territory due to its weak operating performance.

Moody’s Investors Service has downgraded Champaign County one notch to Aa2 due to its declining financial position.

CHICAGO — The St. Paul Port Authority and lawyers for a group of investors who hold some of its 876 Fund economic development bonds will return to court Nov. 1 as litigation over the fate of $51 million of defaulted outstanding debt moves towards a trial date.

CHICAGO — The Metropolitan Water Reclamation District of Greater Chicago is conducting its first request for proposal process for underwriters as it prepares to sell $500 million of mostly Build America Bonds before the end of the year to help finance a long-term capital program of more than $2.5 billion.

CHICAGO — Chicago Public Schools said it was pleased with the final 1.2% rate the district will pay on its $257 million sale Thursday of qualified school construction bonds, given a round of negative rating actions and market conditions.

CHICAGO — The Illinois Finance Authority board this week advanced deals to help fund projects for the University of Chicago Medical Center and DePaul University and announced the successful pooling of federal recovery zone facility bond allocations from at least 15 cities and counties for Navistar International Corp.

CHICAGO — Retiring Chicago Mayor Richard Daley unveiled a $6.15 billion 2011 budget Wednesday that relies heavily on a series of one-time revenues from reserves, surplus tax-increment financing funds, and debt restructuring to close a record $654 million shortfall without the need for tax, fee, or fine increases.

CHICAGO — The St. Louis Metro will complete a ­refunding Wednesday of its $150 million floating-rate revenue bond issue from 2005, using a ­structure that provides a short-term salve for its fiscal challenges while the transit agency awaits a bump in sales tax dollars from a voter-approved increase.

CHICAGO — Iowa expects to collect nearly $300 million more in revenue during the current fiscal year than previously anticipated and projects a 3.3% increase in revenues in fiscal 2011, its revenue estimating committee announced Monday.

Fitch Ratings dropped a Lee’s Summit Industrial Development Authority issue for John Knox Village to BBB-minus — the last rung of investment-grade — due to ongoing fiscal strains.