Midwest

Chicago plans a tax on water and sewer services to save its largest pension fund from insolvency, Mayor Rahm Emanuel announced.

A compromise agreement to put a tax hike on the November ballot that would help fund a $4.7 billion mass transit funding package for Southeastern Michigan could be voted on Thursday.

Chicago is selling a positive budget message at its annual investor conference Wednesday, but the theme is obscured by the city’s pension albatross.

Chicago’s public safety pension funds reported modest growth in their net liabilities in 2015 compared with the big jump at the city’s two other funds.

Junk-rated Chicago Public Schools borrowed $150 million through a private placement Friday, a move that allowed it to bypass a public offering.

The Southeast Michigan Regional Transit Authority failed to secure enough votes to put a 20-year transportation millage on the Nov. 8 ballot in a vote taken this week.

Hamilton County, Ohio, expects about $60 million in savings when it refunds sales tax bonds that helped finance two professional sports stadium.

Poised for Growth, San Diego and Chicago-based fund manager Gurtin Fixed Income Management promoted Michael Johnson to co-CEO.

Minnesota heads into the market Tuesday with its annual summer sale, bolstered by the restoration of one of its triple-A ratings.

Investor appetite for yield overcame any credit quality concerns buyers had as Detroit saw strong demand for its first post-bankruptcy general obligation/distributable state aid backed bond sale issue.