Minnesota

Rochester, Minn.-based Mayo Clinic hopes to land $500 million of state bonding help over the next two decades to support a proposed $5 billion capital improvement and economic development plan that aims to both improve its own facilities and remake its home city.

Minnesota Gov. Mark Dayton wants to overhaul the state's tax code, lowering but broadening the sales tax and raising income tax rates on top earners in his proposed $37.8 billion two-year budget.

The Minnesota Housing Finance Agency hits the market Wednesday with $75 million of tax-exempt homeownership finance bonds that marks its third use a mortgage backed pass-through structure.

Moody's has downgraded Rochester, Minn.'s electric utility revenue bonds to Aa3 as a lack of rate increases in recent years have made a dent in the utility's credit quality.

Moody's Investors Service called Minnesota's latest revenue forecast a positive for school district ratings as a budget surplus will allow the state to begin making good on about $1 billion in aid districts are owed.

The Minnesota Sports Facilities Authority said it expects to break ground in October on a new on a new $975 million Minnesota Vikings stadium.

Minnesota expects to close out its current budget cycle with a $1.3 billion balance but faces headwinds going into its next two-year cycle with a looming $1.1 billion deficit.

Stiff competition with the private sector put bonds issued by the Minnesota city of Monticello to build a city-owned broadband network in default.

Minneapolis Special School District No. 1 won an upgrade from Moody’s Investors Service in recognition of its strong fiscal performance.

Just two weeks after receiving clearance from the state Supreme Court, Minnesota hits the market Wednesday with its $654 million tobacco refunding that marks its first formal use of an appropriation pledge.

The Minnesota Supreme Court released an opinion Wednesday finding that the state’s use of an appropriation pledge to back a proposed tobacco refunding issue does not constitute a “public debt” subject to state limits on such debt.

The top- Metropolitan Council enters the market this week to refund some debt and raise $100 million in interim financing for its $957 million light-rail line that will link the downtowns of Minneapolis and St. Paul.

Moody’s Investors Service lowered Monticello, Minn.’s rating due to the city’s declining financial position due in part to its support of its telecommunications utility.

The Minneapolis-St. Paul Metropolitan Airports Commission is gearing up to sell about $100 million of general airport revenue as it advances plans for a $1.5 billion capital improvement program.

Moody's Investors Service lowered its rating by three notches to A3 from Aa3 and assigned a negative outlook to Brainerd, Minn.'s $8.9 million of outstanding electric utility revenue bonds. The city issued the debt in 2007. The bonds are secured by net revenues of the electric utility.

The Minnesota Office of Higher Education will price $375 million of new-money and refunding adjustable rate student loan program bonds Tuesday.

Minnesota last week awarded $25 million in state bond grant funding to help build a new $54 million ballpark in St. Paul's Lowertown for the Saint Paul Saints baseball team.

A Minnesota city that voted late last month to cancel its lease and financial support for a struggling sports complex paid a steep price for its action in the loss of its investment grade rating even though the city contends it was simply exercising its legal rights.

Moody's Investors Service has upgraded Allina Health System's rating by one notch to Aa3 in recognition of its favorable fiscal performance.

Moody's Investors Service raised its rating by one notch to A1 on CentraCare Health System's debt due to the Minnesota-based system's strong financial performance.