Illinois

Illinois Gov.-elect Bruce Rauner named Leslie Geissler Munger to serve the new term of Comptroller Judy Baar Topinka, who died last month after her re-election.

New Trier Township High School District 203 will soon offer nearly $90 million of voter approved bonds to finance an overhaul of its New Trier High School that serves the affluent north suburbs of Chicago.

Chicago faces a second lawsuit challenging the constitutionality of reforms adopted last year that overhauled two of its four pension funds.

Incoming Illinois Gov. Bruce Rauner last week released a memo accusing former governors of “fundamentally dishonest” budget practices that led to the state's current financial crisis.

Unsustainable and unaffordable pension obligations that crowd out funding for essential services and infrastructure necessary for the health, safety and welfare of Illinois' citizens shouldn't override constitutional mandates on a government's purpose, said municipal restructuring veteran James Spiotto.

The Illinois State Toll Highway Authority will head into its fourth year of a $12 billion, 15-year infrastructure program with record capital spending planned.

The Regional Transportation Authority of Illinois heads into the new year with a $2.9 billion operating budget and $3.8 billion five-year capital program that relies on federal funds and loans, and borrowings including inaugural issues from two of its service boards.

The Iowa Fertilizer Co. plant under construction needs an additional $100 million, the company reported in a recently posted bond disclosure.

The Chicago suburb of Rosemont plans to sell $37.5 million of taxable general obligation bonds next month to bring its public safety pensions up to near full funded status.

Illinois Gov. Pat Quinn tapped his longtime friend, aide, and acting budget director Jerry Stermer to serve out the waning weeks of the late Judy Baar Topinka's term as comptroller.

Litigation challenging Chicago's pension reform legislation threatens the city's ability to escape $19 billion of unfunded liabilities, Fitch Ratings said.

Illinois Gov. Pat Quinn will call lawmakers back to work on Jan. 8 to take up legislation setting a special election to allow voters to pick a replacement to serve out the late Judy Baar Topinka's term that begins next month.

Moody's Investors Service assigned a negative outlook to Batavia, Illinois electric system revenue bonds citing weakened coverage levels and concerns over political will to raise rates tied to its participation in the Prairie State coal-fired project.

A group of Chicago unions, employees and retirees sued Tuesday to overturn pension reforms approved earlier this year, a move that threatens to reverse strides in stabilizing two of the city's four pension funds and the city's credit ratings.

Ohio-based American Municipal Power Inc. – the largest public owner of the bond-financed Prairie State Energy Campus – plans to refund up to $646 million of debt tied to the controversial project that has angered some local municipal participants over its higher energy costs.

Illinois Gov.-elect Bruce Rauner has the legal authority to appoint a replacement to serve out the upcoming term of the late Comptroller Judy Baar Topinka, but Illinois lawmakers should hand the decision over to voters in 2016, Attorney General Lisa Madigan said.

The federal government has given Illinois and Indiana the go ahead to advance plans for a more than $1 billion bistate toll road both states hope to build with financing from a public-private partnership.

A federal judge in Chicago has signed off on Harvey, Ill.'s settlement with the Securities and Exchange Commission over charges it misled investors by diverting bond proceeds from their intended use.

The Metropolitan Water Reclamation District of Greater Chicago will bring as soon as Monday a $300 million sale that offers a mix of refunding securities and new-money designated as "green bonds" to fund projects including the mammoth deep tunnel project.

The Illinois Supreme Court agreed Wednesday to an expedited review of Illinois' appeal of a lower court ruling overturning state pension reforms.