Yvette Shields

CHICAGO — The Minnesota Public Facilities ­Authority today will take bids on $380 million of new-money and ­refunding state revolving fund bonds, including taxable Build America Bonds, to finance clean water and drinking water loans in a deal that will establish a new modernized indenture.

CHICAGO — After dipping deeply into reserves to balance its 2009 and 2010 budgets, financially strapped Chicago is asking the public finance community for help in coming up with “creative ideas” to raise revenue or cut costs.

CHICAGO — The Illinois Supreme Court yesterday upheld an appellate court decision supporting the state’s decision to strip Provena Covenant Medical Center in Urbana of its property tax exemption because it failed to provide sufficient charity care in a case that has garnered national attention.

CHICAGO — St. Louis County will competitively sell $123 million of special obligation tax-exempt bonds and taxable Build America Bonds on Tuesday to fund a new county-wide emergency communications system.

CHICAGO — Two rating agencies delivered good news to Rochester, Minn.-based Mayo Clinic this week in recognition of its fitter financial profile, including improved investment returns and revisions to its defined pension plan that lowered its liabilities.

Moody's Investors Service has upgraded St. Croix County to Aa2 from Aa3, affecting $10.9 million of general obligation debt. The review came ahead of the county's planned issue this week of $3.36 million of taxable promissory notes.

Saying Minnesota has to live within its means, Gov. Tim Pawlenty Monday trimmed the $1 billion capital budget sent to him by lawmakers down to $680 million.

Illinois Gov. Pat Quinn last week signed legislation allowing the state to issue $250 million of general obligation certificates in the current fiscal year to leverage additional federal matching dollars for Medicaid.

CHICAGO — Wisconsin will competitively sell $322.6 million of new-money tax-exempt general obligation bonds and taxable GO Build America Bonds tomorrow to finance traditional “bricks and mortar” projects around the state, and will return next week with a roughly $150 million negotiated GO refunding.

CHICAGO — Missouri Gov. Jay ­Nixon last week announced $126 million of cuts to help fill a new hole in the state’s fiscal 2010 budget. He also proposed a partial government overhaul that would consolidate some departments, sell off state assets, and privatize services to save money in future years.

CHICAGO — Minnesota Gov. Tim Pawlenty was expected to first trim and then sign by late Monday the $1 billion capital spending plan lawmakers approved last week.

CHICAGO — Kansas City, Mo., will enter the market on Tuesday with a $43 million new-money and refunding general obligation deal that includes $10 million of recovery zone economic development bonds, and which will be the city’s first negotiated sale to use only certified minority, women, and disadvantaged underwriting firms.

CHICAGO — Facing a $13 billion deficit, Illinois Gov. Pat Quinn yesterday unveiled a $52 billion fiscal 2011 budget that cuts spending by $2.4 billion, relies on $4.7 billion in deficit borrowing, and leaves nearly $6 billion in bills unpaid.

CHICAGO — Illinois Gov. Pat Quinn Wednesday will unveil a proposed fiscal 2011 budget that cuts spending and calls for new deficit borrowing to help trim a $13 billion deficit, but a gaping hole will remain unless lawmakers approve revenue increases, Quinn aides said Tuesday.

CHICAGO — The Illinois Finance Authority yesterday advanced more than $800 million of new-money and refunding debt planned by various organizations, including the Art Institute of Chicago, the Alexian Brothers Health System, and Palos Community Hospital.

Missouri has collected 12.7% less in revenue than originally expected so far this fiscal year, officials said last week.

Standard & Poor’s raised 59 school districts and municipalities in Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Nebraska, and Ohio.

Moody’s Investors Service dropped Libertyville’s general obligation rating two notches to Aa3 and affirmed its negative outlook due to a deteriorated fiscal position.

The Illinois Board of Elections formally named state Sen. Bill Brady, R-Bloomington, the victor of last month’s Republican primary for governor. Brady will face incumbent Gov. Pat Quinn in the November general election.

CHICAGO — The funded ratios of 10 Chicago-area government pension plans further deteriorated in fiscal 2008, driving their unfunded liabilities up to $18.5 billion from $3.4 billion a decade earlier as steep investment losses exacerbated the already poor position of most of the funds, according to a new report from a local watchdog group.