Wisconsin

CHICAGO — Menasha, Wis., expects to close Wednesday on the sale of its electric utility assets to WPPI Energy in an $18 million sale-leaseback transaction to provide the bulk of funds needed to cover the city’s proposed settlement with holders of $23 million of defaulted steam plant notes.

CHICAGO — Wisconsin Gov. Scott Walker’s long-stalled plan to restructure $165 million of debt to eliminate a shortfall in the current budget won legislative approval Tuesday and will go before the State Building Commission Wednesday as officials work to complete the deal before an April 14 deadline.

CHICAGO — Wisconsin lawmakers could vote as soon as Tuesday on the remaining pieces of legislation designed to eliminate a shortfall in the current state budget primarily by restructuring outstanding general obligation debt.

CHICAGO — An appeal challenging Wisconsin’s controversial legislation that strips most public unions of much of their collective bargaining powers and raises employee pension contributions and health care premiums should go directly to the state Supreme Court, an appellate panel said Thursday.

CHICAGO — Wisconsin Gov. Scott Walker has proposed a $1.12 billion capital budget for the next two-year budget cycle, down sharply from the $1.6 billion plan adopted two years ago.

ALAMEDA, Calif. — Las Vegas Monorail Co. bondholder Eaton Vance has broken with other large holders of the bankrupt project’s debt to challenge the settlement that trustee Wells Fargo Bank NA negotiated with Wisconsin state regulators to commute the monorail’s bond insurance policy.

CHICAGO — Wisconsin Gov. Scott Walker was expected to quickly sign a controversial bill that sharply curtails the collective bargaining rights of most public employee unions and requires government employees to pay more towards their health care premiums and pensions.

CHICAGO — Wisconsin Gov. Scott Walker toured the state Wednesday to promote his $59 billion budget proposal that would eliminate a $3.6 billion deficit with steep spending cuts that Democrats, school districts, and some local governments warned would strain budgets and hurt students, services and jobs.

CHICAGO — Wisconsin lawmakers reconvened Tuesday with the clock ticking on Gov. Scott Walker's plan to restructure $165 million of debt service due May 1.

CHICAGO — Menasha would pay holders of $23 million of defaulted steam-plant bond anticipation notes $17.5 million under a proposed cash settlement that would end bondholder litigation and put the Wisconsin city on a path towards rebuilding its credit.

The chances that Ambac Assurance Corp. will be able to keep $700 million of disputed tax refunds increased last week when a federal court in Wisconsin again threw out the Internal Revenue Service’s case against the bond insurer.

CHICAGO — In his inaugural state of the state address, Wisconsin Gov. Scott Walker vowed to eliminate a budget deficit of more than $3 billion in the next biennium without “short-term fixes” like borrowing. He also called on state employees to shoulder a greater share of their pension and health care costs.

CHICAGO — New Wisconsin Gov. Scott Walker hasn’t released a proposed fiscal 2012-13 budget to address a $3.3 billion deficit, but Standard & Poor’s is confident the state will close the gap and maintain its current AA rating due to its “financial discipline.”

CHICAGO — Wisconsin will competitively sell $430 million of 20-year general obligation bonds Thursday to fund bricks-and-mortar capital projects in the new administration’s first debt issuance, according to capital finance director Frank Hoadley.

Ted Nickel was named commissioner of the Wisconsin insurance office on Tuesday, replacing Sean Dilweg.

CHICAGO — The new governors of neighboring Minnesota and Wisconsin, in their inaugural addresses this week, offered similar pledges to tighten their states’ belts and focus on job creation, but veered far apart on the issue of tax increases.

The Racine Unified School District will ask voters on the April ballot to approve $83.5 million of general obligation borrowing.

Fitch Ratings has affirmed Milwaukee County's AA-plus general obligation rating but the agency revised its outlook to negative from stable due to the county's budget struggles.

CHICAGO — Wisconsin’s budget deficit going into the next fiscal biennium ranges from $1.5 billion to $3 billion, depending on who is interpreting the figures.

CHICAGO — Hoping to capitalize on the lull in supply slated for this week, Wisconsin will take competitive bids Monday on $200 million of transportation revenue bonds in a deal that includes a mix of tax-exempt securities and taxable Build America Bonds.