Ohio

Gov. John Kasich proposed $1.4 billion in tax cuts and a $3 billion infrastructure program financed in part by a new Ohio Turnpike bond credit as well as a one-time $500 million cash payment into the state's rainy day fund as part of his $130.5 billion 2014-2015 spending plan.

Cincinnati and Duke Energy Corp. have agreed to ask a judge to decide who should pay $15 million to relocate underground utility lines to make way for the planned route of a new streetcar.

Days after the close of a controversial liquor-backed bond deal that generated a $500 million cash payment to the state's coffers, Gov. John Kasich said the money would go into the state's rainy-day fund and trigger an automatic taxpayer refund.

Memphis-based Duncan-Williams has announced the opening of a new office in Columbus, Ohio. Former State Treasurer Kevin Boyce and Christy McMurry will head the office.

JobsOhio sold $1.56 billion of liquor profit-backed bonds Monday and Tuesday despite unresolved litigation that scared some investors away, seeing spreads of up to 137.5 basis points above Treasury rates on the taxable series.

JP Morgan and Citi were set to price $1.5 billion of liquor-backed bonds issued by JobsOhio Monday and Tuesday despite delaying the deal last week when the state Supreme Court announced it would hear a case challenging the state law authorizing the bond sale.

The $1.5 billion JobsOhio bond deal set to price Wednesday and Thursday is delayed, sources said, after the state Supreme Court announced it would hear a case that could challenge the constitutionality of use of the bond proceeds.

Moody's Investors Service placed tobacco settlement revenue bonds of issuers in 17 states and two territories under review with direction uncertain because of legal settlement announced in December. The action affects $20.5 billion of debt.

Moody’s Investors Service last week downgraded to A1 from Aa3 its rating on West Clermont Local School District and affirmed its negative outlook on the suburban Cincinnati district.

As the JobsOhio Beverage System prepares to sell $1.5 billion of bonds this week to finance a long-term lease of Ohio's liquor system, investors say a chief concern is an unsettled lawsuit challenging the privatization and lack of a back-up pledge in case of an unfavorable court ruling.

Ohio State University comes to market Wednesday with $350 million of subordinate-lien bonds that will be used to build new housing to finance a plan that requires all freshmen and sophomores to live on campus by 2016.

The Illinois Finance Authority board advanced new-money and refunding deals planned by Northwestern Memorial Healthcare and the Franciscan Communities Inc. in the coming months.

Ohio officials said Tuesday they have decided to move forward with a $1.5 billion bond sale to finance a 25-year privatization of the state liquor distribution system despite unresolved litigation that has stalled the bond sale for a year.

The Ohio Air Quality Development Authority last month authorized the issuance of $32 million of tax-exempt bonds for a new recycling plant in Cincinnati, marking the authority’s first federally tax-exempt financing for a recycling facility.

Ohio Gov. John Kasich's proposal to issue $1.5 billion of bonds against future toll revenue from the Ohio Turnpike won't hurt bondholders of existing turnpike debt, though the new bonds may not be as highly rated as the current AA debt, Fitch Ratings said in a report Friday.

Ohio will sell $220M of general obligation bonds that are a mix of new-money and refunding debt next week, and $267 million of GO bonds in early February.

For the second time in three months, Standard & Poor's upgraded its long-term rating on the Cleveland-Cuyahoga County Port Authority's bond fund program.

Columbus, Ohio, Auditor Hugh J. Dorrian intends to ask for authority to refund up to $475 million of Build America Bonds and recovery zone economic development bonds if federal subsidies are cut under sequestration or in a deal to avoid the fiscal cliff.

Columbus-based law firm Bricker & Eckler LLP has hired two new public finance attorneys, Bill Mason and Rob McCarthy.

Kentucky and Ohio are forming a bi-state management team to determine how to finance a new, $2.5 billion bridge over the Ohio River between Cincinnati and Covington, Ky.