Illinois

Metra, the transit agency that provides commuter rail linking Chicago suburbs to Chicago, approved a 2015 budget that sets the stage for the agency's debut as a tax-exempt borrower with an inaugural $100 million issue.

A Chicago parks advocacy group has launched a legal challenge to block Star Wars' creator George Lucas' plans to use a site along with Lake Michigan shoreline for his proposed museum.

The Chicago suburb of Bridgeview is restructuring $2 million of TIF bonds — and attaching its general obligation pledge to the debt — to help ease a massive debt tied to a troubled soccer stadium.

A Chicago-based fiscal watchdog group praised Cook County, Ill.'s proposed 2015 $3.7 billion budget for tackling a deficit without any new taxes, but warned the "enormous" problems lie ahead tied to pension problems and the county's massive public health system.

An influential Chicago area planning agency will press state lawmakers to establish a regional infrastructure fund supported by a quarter-cent sales tax increase with its eye on financing transportation, water, and open space projects.

Moody's Investors Service downgraded McLean County School District Number 87 in Bloomington, Ill. one notch to Aa2 as it prepares to come to market with a $20 million new money and refunding issue.

The fall meeting of the Municipal CFO Forum slated for Thursday and Friday in Chicago will focus on "financial communications."

New Trier Township High School District 203's board of education will discuss borrowing plans at a meeting next week following voter approval for an $89 million bonding referendum for renovations to its Winnetka, Ill. campus.

Illinois' unfunded pension obligations rose $11 billion in fiscal 2014, bringing the state's total tab to $111.2 billion while the state's contributions in fiscal 2016 will rise by $682 million, according to figures compiled by the Civic Federation of Chicago's Institute for Illinois Fiscal Sustainability.

Illinois Gov.-elect Bruce Rauner urged state lawmakers not to make any major legislative decisions until he is sworn into office along with a new General Assembly.

The Chicago City Council approved Mayor Rahm Emanuel and Chicago Public Schools' proposal to use $17 million in social impact bonding to expand an early education program.

Chicago Treasurer Stephanie Neely will join Allstate as a vice president, treasury, responsible for the firm's strategic direction and management of liquidity, capital, ratings and corporate structure issues.

Illinois governor-elect Bruce Rauner will take the helm of a state struggling with battered credit ratings, massive unfunded pension obligations, and an unbalanced budget.

Springfield, Ill.-based Hospital Sisters Services Inc. will refund $180 million of bonds Wednesday shedding some of its floating rate exposure.

Chicago’s practice of pushing off debt service for cash flow relief and pressures from a looming $550 million spike in public safety pension payments undercut the city’s advances in structurally balancing its budget, the Civic Federation of Chicago wrote.

Midwestern voters head to the polls Tuesday to decide the fate of a handful of finance-related ballot questions and the leadership of eight states, including several where debate over fiscal pressures is taking center stage.

A foreign company has selected Illinois as the site of its planned $1.4 billion fertilizer plant with the help of some local and state financial incentives.

Barraged with political advertisements about the state's fiscal mess, Illinois voters will elect leaders for two fiscal offices — comptroller and treasurer. Incumbent comptroller Judy Baar Topinka, a Republican, is running for re-election against Democrat Sheila Simon.

A proposed $3 billion rapid passenger rail system in the Midwest would cut the five-hour train trip between Chicago to Detroit by almost two hours.

The Illinois State Toll Highway Authority will returns to the market Thursday to borrow $400 million of new-money, toll-backed debt to kick off record infrastructure spending planned in the coming year.