Missouri

Ratepayers from a Chicago suburb will file a lawsuit as soon as Tuesday seeking compensation for steep energy rate hikes they've paid due to cost overruns at the bond-financed Prairie State Energy Campus coal-fired power plant.

A group of bondholders trying to recoup their investment in a failed Moberly, Mo. artificial sweetener plant has added as a defendant Raymond James Financial Inc. — which acquired the bond deal's underwriter and lawsuit's original target.

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%.

Missouri transportation officials blamed a lack of consensus on how to pay for the state's transportation needs for the failed ballot measure that sought a sales tax hike to generate more than $5 billion in new revenue.

The struggling Lakeside 370 Levee District in St. Charles County, Missouri has filed Chapter 9 bankruptcy as it seeks to restructure $34 million of unrated bonds in hopes of improving the project's prospects.

Rating agencies affirmed Missouri's triple-A but warned they are watching the impact of income tax cuts and a ballot measure that could hurt the governor's power to cut budgeted spending when revenues falter.

Missouri Gov. Jay Nixon slashed $800 million in spending in the fiscal 2015 budget warning the cuts were needed to keep the budget balanced due to the threat that lawmakers might restore a series of vetoed tax breaks.

Missouri Gov. Jay Nixon vetoed legislation establishing tax breaks and exemptions, warning that state and local governments couldn't afford the measures.

Missouri is readying a roughly $90 million appropriation-backed refunding for sale next month with plans in the works to return next year with a rare new money issue for $200 million to fund a new mental health facility.

Missouri Gov. Jay Nixon announced his opposition to a ballot measure asking voters to approve a three-fourth cent sale tax hike to fund transportation projects.

The trustee for the bondholder-owned St. Louis convention center hotel complex plans to distribute on June 20 $32 million in funds to holders of $98 million in bonds, most of it coming from the newly-closed sale of the hotel.

Missouri Gov. Jay Nixon issued a proclamation setting the vote on a ballot question to amend the state constitution raising the sales tax to fund transportation projects for the Aug 5.

A not-for-profit St. Louis group raised the possibility of referendum drive to try to challenge the Legislature's override of Gov. Jay Nixon's veto of an income tax cut.

The St. Louis Board of Aldermen signed off on an amended redevelopment agreement related to the city's bondholder-owned convention center hotel complex that helps clear the path for the complex's sale.

Missouri lawmakers wrapped up a busy 2014 session after passing income tax relief and overriding a veto, adopting a new fiscal 2015 budget, authorizing $600 million in borrowing, and sending to the ballot a sales tax hike for transportation.

A sales tax hike in Missouri to bolster transportation funding is headed to the November ballot.

The Missouri Highways and Transportation Commission hits the market next week with a $900 million refunding as it awaits legislative word on whether a sales tax hike to ease its funding crunch will go to voters this fall.

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.

The University of Missouri Board of Curators will offer up high-grade paper early next week in a nearly $300 million revenue-backed issue to refund existing debt and pay off commercial paper.

Kansas City International Airport should build a new state-of-the-art central terminal to replace its existing three, a special mayoral advisory group recommended Wednesday.