Yvette Shields

CHICAGO — Menasha, Wis., must turn over public records related to the operations of its now-shuttered steam utility plant to an investor who holds $2 million of the city’s $23 million of defaulted bond anticipation notes issued for the plant, a judge ordered yesterday.

CHICAGO — Fiscally beleaguered Illinois enters the market on Thursday with $1 billion of taxable general obligation Build America Bonds, its first use of the federal stimulus program as the state seeks to raise new-money proceeds for its $31 billion capital program.

Fitch Ratings revised its outlook on the BB-rated St. Louis Charter School to positive from stable due to an improved financial position.

Iowa Gov. Chet Culver has tapped the head of the Iowa Finance Authority, Bret Mills, to serve as director of the Department of Economic Development.

Standard & Poor’s last week revised the outlook on seven Illinois state universities to negative from stable due to their exposure to the state’s liquidity problems that have resulted in delays in state aid payments.

CHICAGO — The Missouri Environmental Improvement and Energy Resources Authority will enter the market this week with $220 million of advance-refunding state revolving fund bonds as federal stimulus funds have at least temporarily put off the need for new-money borrowing.

CHICAGO — The Chicago Housing Authority is planning to enter the market as soon as late next week to sell $25 million of taxable revenue bonds under the Build America Bond program in the agency’s first debt issue backed by its own newly minted AA-minus rating.

CHICAGO — Missouri Gov. Jay Nixon this week unveiled a $23.9 billion all-funds fiscal 2011 budget that banks on an economic rebound, federal funds, and cutting spending and jobs to keep the state in the black.

CHICAGO — With an upgrade in hand from Moody’s Investors Service, St. Cloud, Minn.-based CentraCare Health System today will price for institutional buyers nearly $200 million of fixed-rate refunding bonds.

CHICAGO — Repayment of about $46 million of taxable tribal gaming revenue bonds from a $50 million issue on behalf of the Lac du Flambeau tribe in Wisconsin remains in question as investors decide their next move, following a federal judge’s dismissal of their case seeking to enforce their bond indenture rights.

Missouri Rep. Chris Kelly, D-Columbia, last week submitted to the General Assembly a bill that calls for a public vote on $800 million of borrowing for higher education projects.

Standard & Poor’s upgraded Stearns County’s general obligation rating to AA-plus from AA due to its strong financial performance, increased reserve levels and improved financial management.

Iowa Gov. Chet Culver said his upcoming fiscal 2011 budget would fully cover a 2% allowable growth increase in funding for public education. The 2% increase would cost the state $70 million.

Moody’s Investors Service last week downgraded Matteson’s unlimited-tax general obligation rating two notches to Baa2 from A1 and warned of further action with a negative outlook.

CHICAGO — Minnesota Gov. Tim Pawlenty on Friday unveiled an $815 million capital budget that relies on $685 million of general fund-supported bonding amid calls from some lawmakers for $1 billion in capital spending to bolster the economy.

CHICAGO — The Illinois Finance Authority gave preliminary approval this week to the Seneca I-80 Railport Development LLC’s proposed $576 million issue. The move advances development efforts for the proposed freight-transfer facility that is seeking an allocation of tax-exempt, private activity bonding under the federal government’s $15 billion pilot program.

CHICAGO — Illinois Gov. Pat Quinn warned the state faces its worst “financial calamity” ever and said he would push for tax code reforms that raise revenue in a “fair way” in his state of the state address yesterday.

CHICAGO — The Metropolitan Sewer District of St. Louis will sell $85 million of revenue bonds today, tapping the Build America Bond program to raise funds for its long-term $6 billion capital improvement program.

CHICAGO — Faced with rising debt service costs and sagging tourism revenues, the Metropolitan Pier and Exposition Authority will ask Illinois lawmakers who return to work today for the power to restructure its debt and extend a state debt-service subsidy.

Moody’s Investors Service has placed Coon Rapids’ $1.8 million of multifamily housing revenue refunding bonds for the Pine Point Apartments project on watch due to a possible default based on the transaction’s asset-to-debt ratio and projected cash flows.