Missouri

The Missouri House’s Budget Committee chairman last week proposed that the state dip into its reserves to pay for recovery efforts from recent weather-related disasters, according to published reports.

CHICAGO - Federal authorities announced the filing in court late last week of a $4.7 billion settlement agreement in their lawsuit against the Metropolitan St. Louis Sewer District.

Kansas City Mayor Sly James last week announced the creation of a blue-ribbon Commission on Municipal Revenue.

CHICAGO - The trustee on $113 million of bonds that financed construction of privately owned Branson Airport drew on supplemental reserves to make a July 1 debt service payment as the operators work to bolster business and stave off future enforcement actions by bondholders.

Moody's Investors Service has revised its outlook on Saint Luke's Health System's A1 rating to stable from negative due to its improved operating performance. The action affects $532 million of debt issued through the Missouri Health and Educational Facilities Authority.

Former Kansas City Mayor Mark Funkhouser, who lost his bid for a second term, has taken a job as director of the Washington, D.C., think tank Governing Institute.

St. Louis-based Webster University received one-notch rating upgrades ahead of its recent new-money and refunding sale for $61 million.

St. Louis saw strong demand among institutional buyers for its $30 million refunding last week of Lambert-St. Louis International Airport revenue bonds and achieved 4.6% in net present-value savings, city Comptroller Darlene Green said.

CHICAGO - The University of Missouri Board of Curators will enter the market next week with $60 million of refunding system facilities revenue bonds as itgrapples with a steeper-than-expected cut in state aid made by Gov. Jay Nixon earlier this month.

The Internal Revenue Service is auditing $19 million of tax-increment refunding revenue bonds that were issued by Missouri's Florissant Industrial Development Authority in 2003.

CHICAGO — Washington University in St. Louis will enter the market Thursday with nearly $200 million of new-money and refunding revenue bonds that will help finance projects and introduce taxable bonds into the top-rated school's debt portfolio.

Standard & Poor’s last week lowered its rating on the Nevada Regional Medical Center into junk bond territory due to ongoing strains on the balance sheet.

CHICAGO - Missouri Gov. Jay Nixon on Friday signed into law a $23 billion fiscal 2012 budget after cutting $172 million from the plan approved by lawmakers in order to keep spending in line with expected revenue and to set aside $50 million for recent weather-related disasters.

CHICAGO — Facing a funding crisis, the Missouri Highways and Transportation Commission has adopted a five-year budget plan that eliminates more than 1,000 positions and shutters facilities to save $500 million for project funding as the agency recedes from the ranks of frequent issuers.

CHICAGO — The Metropolitan St. Louis Sewer District has submitted a proposal to its rate-setting commission asking voters for authority to issue $945 million of bonds in coming years to fund capital projects, many of which are required under a tentative $4.7 billion agreement reached with federal authorities to settle a lawsuit.

CHICAGO — The financial toll of the tornado that ripped through Joplin, Mo., on Sunday, killing more than 100 and destroying a local hospital, remains unknown, but Moody’s Investors Service expects the health care system’s rating will weather the impact and Missouri said it stands ready with aid.

CHICAGO — In a deal that debuts expanded disclosure about its pension obligations, Missouri will take competitive bids Tuesday on $76.9 million of refunding certificates of participation with the savings aimed at providing budgetary relief.

CHICAGO — Struggling to meet traffic projections for its privately owned airport in Missouri’s Ozark Mountains, Branson Airport LLC has won some breathing room from holders of $113 million of airport bonds under a forbearance agreement that staves off any enforcement actions.

CHICAGO — The nation’s largest nonprofit health care provider, Ascension Health, will acquire Alexian Brothers Health System, a union that marks the latest in a consolidation trend as hospital systems seek to bolster their capital positions and navigate the challenges of federal health care reform.

CHICAGO — Kansas City, Mo., and St. Louis officials were breathing easier Wednesday after voters in both municipalities overwhelmingly endorsed the continued collection of a 1% tax on wages and salaries.