Minnesota

The Mayo Clinic is returning the market Tuesday with a $200 million refunding, a follow up to its $350 million taxable new-money issue in March.

State officials say a 45% road funding shortfall will cripple Minnesota’s highway expansion plans by 2018.

Minnesota Gov. Mark Dayton wants to spend $700 million of the state’s $900 million surplus on various initiatives and tax relief while leaving $200 million on the books should state revenues falter.

Financial and legal firms that do bond work for Chicago’s sister agencies would face greater diversity disclosure requirements under a bill introduced last month to the Illinois General Assembly.

Economic strains are denting Minnesota’s rosy revenue picture, giving state lawmakers less wiggle room on new spending, borrowing plans, and tax relief.

The Midwest lagged the national uptick in issuance last year as the conservative region did take advantage of low interest rates to refund debt but held tight the purse strings on new money borrowing.

Minnesota is offering $350 million of its high-grade state revolving paper in a competitive sale set for Tuesday.

The Minneapolis-St. Paul Metropolitan Airports Commission won an upgrade of its subordinate bond credit after a new review.

Minnesota’s coffers have surged to twice the previously projected balance, prompting a new round of debate over how to spend the extra funds with a focus on tax cuts, education, and transportation.