Illinois

The University of Chicago plans to sell up to $400 million of debt through the Illinois Finance Authority to refund existing bonds and finance an ongoing capital program that includes new and renovated facilities.

Chicago narrowed the field of potential bidders on a Midway Airport lease down to six from among 16 responses it received during its request for qualifications process.

Chicago's motor fuel tax credit was downgraded three nothes by Moody's Investors Service as the agency notched the credit with Illinois bond rating.

After returning its balance sheet to the black, the Illinois International Port District plans to bolster its role in economic development and job creation by turning to private managers to raise the needed capital.

Six weeks after pulling its last bond sale, Illinois plans a full court press with investors and will drop a bidding feature that had dampened the interest of some broker-dealers as it prepares to competitively sell $800 million of debt.

The Chicago City Council will take up ordinances as soon as Wednesday authorizing up to $1.65 billion of O'Hare International Airport debt that will raise new money for the airport's $8 billion expansion.

Rank and file Chicago Police Sergeants Association members rejected a proposed contract that included pension reforms billed by Mayor Rahm Emanuel as a potential framework to help solve the city's pension crisis.

Fewer governors have been focusing on pension reform in their state of the state addresses this year, but most who propose reform follow through, according to Loop Capital Markets.

Illinois has settled securities fraud charges with the Securities and Exchange Commission for misleading investors about its approach to funding its pension obligations.

With its credit and reputation damaged, Lombard, Ill. plans to shift gears and become a buyer of municipal securities to help finance capital projects.

Illinois Gov. Pat Quinn chided state lawmakers Wednesday for failing to tackle pension reform as he unveiled a $35.6 billion general fund budget for fiscal 2014.

Moody's Investors Service stripped the long struggling East St. Louis school district which is under state oversight of its investment grade rating.

A judge last week agreed to allow a lawsuit to proceed that challenges Chicago's 99-year, $563 million lease of four downtown parking garages to a private consortium.

Illinois Gov. Pat Quinn on Monday vetoed a 2011 gambling expansion bill for lacking sufficient regulatory oversight and he warned that more revenue from additional gaming won't solve the state's pension crisis.

The Illinois State Toll Highway Authority board has approved refunding up to $1 billion of debt in a deal led by Goldman Sachs and Jefferies & Co. and assigned Morgan Stanley the lead spot on a future new-money deal that may tap the TIFIA program.

Long-time Chicago public finance veteran Tariq Malhance is stepping down as Cook County's CFO, and the current deputy CFO, Ivan Samstein, is expected to take over the top finance spot.

A bipartisan group of Illinois lawmakers put their support Wednesday behind a new pension reform package that cuts benefits, raises employee contributions, and reduces the state's burden for funding future teachers' pensions.

The Chicago Transit Authority has tapped its CFO Karen Walker to lead the agency's public-private partnership efforts and has hired Ronald DeNard from the private sector to fill the CFO spot.

The Illinois Finance Authority board advanced a handful of small direct or private placements for an array of not-for-profits.

Illinois Attorney General Lisa Madigan's office argued in state court that state constitutional protections against impairing retiree pensions don't extend to healthcare benefits.