Minnesota

Monticello, Minn., will borrow $6.5 million to fund a settlement with holders of $26.4 million of defaulted telecommunication revenue bonds as the city seeks to turn the page from a failed deal that prompted investor accusations of fraud.

The Independent School District No. 832 in Minnesota is issuing bonds to refund Build America Bonds, and the City of Grand Forks, N.D. has started a process that may lead it to do the same.

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.

Moody's Investor’s Service returned Vadnais Heights, Minn.'s general obligation bonds to low investment grade, now that a resolution is in place on $27 million of bonds that defaulted after the city failed to honor a pledge on a sports complex.

Three more Midwestern issuers have said that they can redeem Build America Bonds issued in 2010 because their subsidy payments from the federal government have been reduced due to sequestration.

Moody's Investors Service has revised Minnesota-based Fairview Health Services' outlook on its A3 rating to positive from stable in recognition of steady operating improvements.

The Minneapolis-St. Paul Metropolitan Airports Commission heads into the market Wednesday with a $275 million subordinate general airport revenue refunding with no near-term new-money borrowing in sight.

The public agency overseeing construction of a new Minnesota Vikings stadium approved a $49 million increase in the project's budget due to rising construction costs.

Borrowing by Midwest issuers slid 13.2% for the first half of 2014 but new-money issuance fueled by Chicago and Illinois deals helped boost new-money by 16.8%.

Minnesota will take bids Tuesday on $904 million of general obligation bonds in a sale bolstered by a refunding piece and decision to skip its customary second annual new money issue.

Minnesota will take bids Tuesday on a rare certificates of participation issue for $85.4 million Tuesday to raise funds to finance a new legislative office building that was the subject of a legal challenge.

The Regents of the University of Minnesota will sell $141 million of general obligation bonds Thursday to finance construction of a new ambulatory care center.

Minnesota added $150 million to its budget reserves at the start of the fiscal year July 1, bolstering the funds to $811 million.

The Western Minnesota Municipal Power Agency is touting its strong financial profile and solid ratings as it prepares to double its debt load with a $320 million issue Thursday to finance a new hydroelectric plant that will bolster its renewable energy generating sources

The Ramsey County, Minn. board of commissioners approved spending $10.55 million to purchase a sports complex financed with $27 million of now-defaulted bonds sold by Vadnais Heights.

Minnesota Gov. Mark Dayton signed legislation authorizing $1.1 billion in mostly bond-financed infrastructure spending and extending the state's ability to do negotiated bond sales for four years.

Two former Minneapolis-based Northland Securities veterans have returned to the firm to bolster its education work.

The Minnesota Legislature on Friday approved a $1 billion package of capital projects primarily financed with general obligation borrowing.

The Minnesota House was expected to vote on a $1.1 billion capital budget that primarily relies on general obligation borrowing.

A declining number of Midwestern high school graduates is adding to already highly competitive environment further straining the region's small colleges, according to Moody's Investors Service.