Illinois

With legal opinions endorsing the bankruptcy-remote structure of its next deal, and an A rating in hand, Chicago Public Schools’ new tax-revenue backed credit has a clear path to market access, though yield penalties will remain.

Chicago Public Schools is readying its inaugural sale under a new dedicated capital improvement tax structure crafted to convince investors that bond repayment is insulated from both the district's operating struggles and the threat of Chapter 9.

The University of Chicago Harris School of Public Policy named former Chicago chief financial officer Lois Scott as the inaugural chair of the advisory board that oversees its expanding Center for Municipal Finance.

Illinois Gov. Bruce Rauner and the General Assembly’s Democratic leadership headed toward the New Year with a budget impasse still hanging over the state, after the annual veto session ended amid deepening political rancor.

Energy-producing states affected by two years of deterioration in natural resource prices can expect continued global headwinds to pressure revenues, according to Fitch Ratings.

Chicago Mayor Rahm Emanuel scored a major legislative victory with the state House’s overwhelming bipartisan approval of legislation designed to stave off looming insolvency for two of the city’s pension funds.

Illinois Gov. Bruce Rauner vetoed legislation that would give Chicago Public Schools $215 million toward pension contributions, a move that potentially slaps the cash-strapped district with a big budget hole to fill.

Chicago wrapped up its second billion-dollar airport deal within a month at a price that displays how much the market has changed in that short time.

The Chicago City Council signed on a new special use tax-increment financing district designed to help leverage $1.1 billion in federal funding for Chicago Transit Authority rail transit improvements.

Chicago's effort to right its fiscal path remains an uphill battle, according to expert panelists convened by the City Club of Chicago.

Legislative backers of Chicago’s funding overhaul of its municipal and laborers’ pension funds expect a vote in the final days of the General Assembly’s veto session after dropping language from the bill that would have subordinated pension contributions to bond repayment.

A second rating agency has dropped Chicago-based Roosevelt University into junk territory over as enrollment struggles and a heavy debt load strain its balance sheet.

Rosemont, Ill. took a one-notch credit hit from Moody’s Investors Service as it prepares to take on more debt to finance a new minor league stadium.

Chicago-based Mesirow Financial has added three new members to its public finance team in the Chicago office.

The Chicago City Council unanimously approved Mayor Rahm Emanuel’s $8.2 billion 2017 budget, which funds the hiring of hundreds of new police officers and taxes disposable bags to help close a spending gap.

Illinois Gov. Bruce Rauner's administration released sobering fiscal projections Wednesday that show the state’s bill backlog could top $47 billion in fiscal 2022 if lawmakers don’t resolve a political stalemate and make progress on balancing the books and reforming pensions.

Cook County, Ill., commissioners signed off on a $4.9 billion 2017 budget that relies on spending cuts and a new sweetened beverage tax to erase red ink due in part to growing debt service and pension expenses.

Illinois lawmakers returned to the capital for the start of a six-day veto session that includes a possible vote on overhauling two Chicago pension funds and a hearing on shifting Chicago Public Schools governance to an elected school board. Little budget progress is expected.

Chicago Public Schools pulled the plug until 2017 on a $426 million bond sale originally planned this month, a decision that came as the district closed on a new cash flow borrowing.

Cook County, Ill., Board President Toni Preckwinkle cast the deciding vote on a sweetened beverage tax promoted as the best means to avert deep public safety and health spending cuts to close a budget gap.