Illinois

Public finance attorney Maribel Mata Benedict has joined Detroit-based law firm Miller Canfield in the firm's Chicago office from Katten Muchin Rosenman.

The cash-strapped Chicago Public Schools is pushing off release of its fiscal 2016 budget and looking at $1.1 billion of tax anticipation and note borrowing through new credit lines as it struggles to stay afloat.

Gilmore & Bell PC, one of the top-ranked Midwestern bond counsel firms, has formally landed in Illinois with the opening a downstate office in Edwardsville, the law firm said Monday.

Cook County President Toni Preckwinkle Monday announced she has tapped a Chicago Park District executive to act as the county’s new budget chief.

Midwestern University is making private loans to students in partnership with the Glendale Industrial Development Authority and the Illinois Finance Authority, which are coming to market with a total of $30 million of bonds that will fund additional lending.

Lombard, Ill.'s village board isn’t budging from its longstanding position not to make up a shortfall in revenues needed for debt service on its $190 million of defaulted hotel and conference center bonds.

Illinois’ Democrats and Republicans heaped praise on retiring Auditor General William Holland for his office’s independence analysis.

Chicago Mayor Rahm Emanuel is moving up by one month release of a 2016 budget that is expected to address how the city intends to tackle a spike in pension contributions.

Illinois lawmakers plan to begin sending off bills that make up a $36.3 billion fiscal 2016 budget to Gov. Bruce Rauner next week, three weeks after they adopted a spending plan labeled by the GOP leader as “phony.”

A federal judge Tuesday said federal approval of a controversial $1.5 billion toll road between Indiana and Illinois was “arbitrary and capricious” and in violation of federal environmental law.

The Chicago City Council approved without debate Mayor Rahm Emanuel’s proposed $1.1 billion general obligation bond restructuring that helps resolve a liquidity crisis and eases budget pressures.

Illinois Gov. Bruce Rauner is turning to a television advertising campaign in an attempt to build public support for his position in a budget impasse with the General Assembly’s Democratic majority.

The Chicago City Council votes Wednesday on a $1.1 billion general obligation restructuring that helps the city resolve a liquidity crisis driven by its downgrade to junk while also providing a big dose of budget relief.

Chicago's $1.1 billion general obligation debt restructuring cleared the City Council Finance Committee Monday after a two hour hearing during which new chief financial officer Carole Brown defended plans to roll short-term operating expenses on to the city’s long-term debt load.

Non transportation-related capital projects would be put on hold if a budget impasse can’t be bridged by the start of the new fiscal year in two weeks, under a second wave of cuts and management maneuvers laid out by Illinois Gov. Bruce Rauner’s administration.

Moody’s Investors Service labeled Chicago’s shift of its floating-rate general obligation and sales tax paper to fixed-rate structures as a credit positive.

The College of DuPage board hired a consultant after putting its treasurer and controller on paid administrative leave after questions were raised over their investment decisions.

Chicago takes the first step toward moving $1 billion of short-term, cash flow obligations on to its long-term debt load at a City Council hearing Monday.

A coalition of environmental groups wants the Federal Highway Administration to withdraw its support for the controversial Illiana Corridor toll road.

Chicago officials will seek up to $1.1 billion of general obligation borrowing authority from the City Council to refinance short term paper into a longer term, fixed-rate debt.