Iowa

The Midwest Economy Index declined to 0.51 in May from 0.72 in April, the Federal Reserve Bank of Chicago said Friday.

FORT MADISON, Iowa -- Voters rejected a $27 million school bond issuance Tuesday that would have been used to build, furnish and equip a new elementary school and a softball and baseball field.

Iowa’s weaker-than-projected revenue collections are so far manageable, Moody’s said.

IOWA CITY, Iowa -- As the mother and grandmother of children with special needs, Heather Young has never voted against a school bond issue.

Moody's Investors Service places Mercy Hospital's (IA) Baa2 rating under review for downgrade, affecting approximately $74 million of rated debt.

WATERLOO, Iowa -- The city's plans to borrow $20.9 million next week will be among its largest annual bond issues ever.

CORALVILLE, iowa -- Meg Moreland, a 17-year-old student at West High School in Iowa City, has missed more school days this year because of excessive heat than snow.

WATERLOO, Iowa -- A national bond ratings firm gave Black Hawk County's government high marks for fiscal management.

FORT MADISON, Iowa -- The Fort Madison School Board is putting a $27 million general obligation bond issuance that will pay for the construction of a new elementary school and softball and baseball fields to vote June 27.

Lee County voters soon will take to the polls for the first time this year to vote on the fate of the county health department building.

During its regular meeting Monday night, the Newton, Iowa, Community School Board of Education took another step forward in funding the new Berg Middle School.

Issuers in the Midwest sold $87.2 billion of municipal bonds in 2016, a 23.4% year-over-year increase that was the biggest of any region.

Iowa’ s Xenia Rural Water District brought its long financial struggles to a happy ending as it formally shed remaining bonds from its troubled 2006 issue, ending a saga that began with an ambitious expansion that led to default and concerns over the district’s solvency.

The Iowa Fertilizer Co. LLC’s successful receipt of bondholder waivers and completion of a tender exchange for $150 million of the original nearly $1.2 billion deal eases pressures on the struggling project without eliminating them.

The Iowa Fertilizer Co. LLC’s construction and cash flow troubles led Fitch Ratings to downgrade deeper into junk almost $1.2 billion of project bonds that are now under an Internal Revenue Service cloud.

The issuers of the Midwest sold $41 billion of municipal bonds in the first half of 2016, spurred by increased new money issuance, according to Thomson Reuters data.

An Iowa casino and racetrack is challenging the proposed loss of its tax-exempt status by the Internal Revenue Service, claiming it lessens the burdens of government and is a legitimate 501(c)(4) social welfare organization.

Iowa will return to the market twice this month after a six-year absence to snag refunding savings.

The Conroe Industrial Development Corporation in Texas has paid a penalty and agreed to redeem bonds under the Internal Revenue Service’s voluntary closing agreement program (VCAP) to settle a tax violation relating to bonds it issued in 2008 and refunded in 2012.

Coralville, Iowa’s general obligation bond rating moved closer to speculative grade amid balance sheet struggles due in part to its investment in recreational enterprises.