Yvette Shields

A Republican legislator this week floated a plan to seek a constitutional amendment to allow slot machines at Minnesota’s two horse tracks to fund construction of a new Vikings football stadium.

Amid a warning last week that revenue collections for the first quarter of the fiscal year are down $140 million, Iowa’s revenue estimating conference meets today to issue a new revenue projection.

Standard & Poor’s upgraded the University of Northern Iowa’s academic building revenue bonds one notch to A-plus in recognition of its strong state support. The school’s dormitory revenue bonds were affirmed at BBB-plus.

CHICAGO — Chicago enters the market today to refund $90.5 million of sales tax revenue bonds for savings that will help chip away at the red ink that drove Fitch Ratings’ decision to put a negative outlook on the city’s general obligation and sales tax-backed credits.

CHICAGO — The International Olympic Committee in its first round of voting Friday dashed Chicago’s $48 million push to host the 2016 Summer Games, an effort championed by Mayor Richard Daley as a means to highlight Chicago as a world-class city while spurring job creation and economic development across the region.

CHICAGO — Underwriters interested in working on Chicago Transit Authority bond sales over the next two years have until Oct. 13 to submit their qualifications for review.

CHICAGO — Fitch Ratings revised its outlook on Chicago’s general obligation credit to negative, delivering what was the second dose of bad news for the city on Friday following the International Olympic Committee’s rejection of its bid to host the 2016 Summer Games.

CHICAGO — Chicago-based Loop Capital Markets LLC has cemented a partnership with UBS Wealth Management US to provide primary municipal securities to UBS’ retail clients in a move Loop is hoping will bolster its appeal with borrowers looking to capitalize on retail’s heightened prominence in the market.

CHICAGO — Minnesota heads into the market with a rare revenue-backed issue beginning on Monday when it will take retail orders on $60 million of bonds to fund its ongoing efforts to establish a statewide digital-radio communications system for public safety personnel.

CHICAGO - Budget hearings begin next week on Milwaukee County Executive Scott Walker's proposed $1.5 billion 2010 budget that includes plans to accelerate borrowing to take advantage of federal stimulus programs.

CHICAGO - Chicago Mayor Richard Daley yesterday recommended Terry Peterson - the former chief executive officer of the Chicago Housing Authority - to lead the Chicago Transit Authority board following public finance banker Carole Brown's departure.

Northwestern Memorial Healthcare last week announced its plan to sign an affiliation agreement with Lake Forest Hospital to form an integrated system.

Illinois Gov. Pat Quinn’s administration said this week it plans to appeal a court ruling halting hundreds of layoffs that were to take effect this week in order to help balance the fiscal 2010 budget.

Chicago reported last week that its key revenue sources are down $183 million from projections, putting them on track to fall $302 million short of budgeted levels at the end of the year.

CHICAGO - St. Louis-based Edward Jones has added a handful of municipal professionals to its ranks over the last year and is looking to further boost its banking staff as the retail brokerage seeks to parlay its specialty into new business given the heightened attention now on retail buyers.

CHICAGO — A group of investors who hold a piece of Menasha’s $24 million of city appropriation-backed steam plant revenue bond anticipation notes allege in a federal lawsuit filed earlier this month that the Wisconsin city committed fraud in misrepresenting its intent to repay the now-defaulted notes.

CHICAGO — Illinois erred in stripping Provena Covenant Medical Center in Urbana of its property tax exemption over charity-care levels and it should be restored because the hospital treats all patients regardless of their ability to pay, a Provena attorney told the state Supreme Court in oral arguments Wednesday.

CHICAGO - Public finance banker Carole Brown will step down as chairwoman of the Chicago Transit Authority board after Chicago Mayor Richard Daley names a replacement so she can focus on her work at Siebert, Brandford Shank & Co.

CHICAGO - Iowa Gov. Chet Culver has suspended the state's film tax-credit program and asked the state auditor and attorney general to assist in a review after an audit found lax oversight had allowed producers to claim credits for unqualified expenses, raising questions over the value of the program as the state seeks to remain in the black.

Moody’s Investors Service last week downgraded Concordia University’s rating one notch to Baa1 on $22.8 million of outstanding debt issued in 1998. The school faces stagnant net tuition rates and reduced support from its governing body, the Lutheran Church-Missouri Synod, analysts said.