Midwest

Chicago Mayor Rahm Emanuel unveiled his 2017 budget proposal Tuesday using the occasion to promote what he portrayed as the city’s fiscal turnaround.

The Indianapolis City-County Council approved a $1.1 billion budget for fiscal 2017 that includes a $200 million infrastructure plan that would be partially funded by future bonding.

Junk-rated Chicago Public Schools averted a teachers’ strike after striking a tentative four-year deal with union leaders during negotiations that came down to the wire.

Chicago received an outlook boost from S&P Global Ratings, to stable from negative.

Holders of $113 million of defaulted bonds issued for a Branson, Missouri Airport will get an update on airport operations and an amended forbearance agreement on Oct. 13.

Illinois may refund of some of its $1.5 billion in 2010 tobacco settlement bonds.

Wayne County, Michigan says it’s made sufficient gains in balancing its books and is ready to exit a state consent agreement.

A Michigan-based senior housing developer and operator is borrowing $69.3 million of unrated tax exempt and taxable bonds to finance projects in Waterville, Ohio, and Chesterton, Ind.

Milwaukee will take competitive bids Thursday on $180 million of revenue anticipation notes to smooth out the cash flow needs of Milwaukee Public Schools.

St. Louis was downgraded ahead of its $25 million general obligation sale planned for later this month.