Illinois

State Comptroller Susana Mendoza will renew a push for legislation to set automatic triggers for a $200 million annual deposit into the rainy day fund.

CPS' federal windfall aided the district's fiscal progress with plans to use $700 million in the next budget before exhausting the pot in fiscal 2025.

Cook County and the Illinois Municipal Retirement Fund reported improving pension health, while the unfunded liabilities of Chicago funds worsened in 2020.

As summer beckons, it's time for a reporters' roundtable with some of the Bond Buyer's senior staff. Yvette Shields, Karen Pierog, Keeley Webster and Thomas Nocera talk with Chip Barnett about what's hot in their regions and what municipal bond market participants should expect to see in the months ahead. (25 minutes)

Local police funds challenging the suburban and downstate police and firefighter pension fund consolidation appealed a court decision that upheld it.

Chicago's decades-long casino chase has moved closer to reality with Mayor Lori Lightfoot banking on the fiscal jackpot to help fund the city's pensions.

An Illinois judge upheld the constitutionality of the state's consolidation of downstate public safety pension funds; an appeal is expected.

Goodman's colleagues and friends called her death a loss for the public finance industry. The Canadian native embraced Chicago and her role aiding local and state governments.

Chicago hasn't shied away from using its relationships with investment banks to pursuit of larger social goals, but it hasn't always gone the city's way.

Chicago's preliminary projected gap in the next budget, when Mayor Lori Lightfoot has vowed to reach structural balance, is down from an $867 million estimate.

Illinois' spread penalties widened sharply from the state's last deal, but they landed in lockstep with current trading levels as the state saw healthy demand for its $1.6 billion GO issue.

Investors pulled $7.270 billion from muni bond mutual funds in the week ending May 11, per ICI data, while exchange-traded funds saw $1.756 billion of inflows, the fourth week of record inflows.

SWS has launched a specialty higher education sector group that will be led by Julia Harris from the firm's Chicago office.

Commercial PACE loans facilitated through the Illinois Finance Authority and Cook County supported hotels, a historic theater, an indoor vertical farm, and rental kitchens.

Deep-in-the-red municipal returns are not helping assuage investor concerns, creating a negative feedback loop that has yet to see a pause.

FHN Financial Capital Markets hired Rene Moreno to establish a banking presence in Arizona while Melanie Shaker will launch the firm's new Midwest effort.

Despite compelling yields and ratios, buyers continue to be selective. Even if rates stabilize, municipal investors will likely be cautious for some time, waiting for fund outflows to abate, strategists said.

The Regional Transportation Authority, Chicago Transit Authority and many state universities have drawn positive rating actions as the state's ratings improved.

If the deal closes, the two systems say they will evaluate existing debt structures and combine credits where possible and beneficial.

The Illinois Sports Facilities Authority's hotel taxes are on the rebound but Chicago is on the hook for a $28 million debt service gap this year.