Midwest

With its books restored to order, Wayne County, Mich., says it’s ready to return to the market with $200 million of borrowing to complete its unfinished jail project in downtown Detroit.

Chicago’s first mistake in its much-maligned parking meter lease was its choice of asset, says a new report that compares the city’s P3 deal to the Indiana Toll Road.

Southern Illinois University took a second rating hit over the strain of managing through the state’s prolonged budget gridlock.

CHICAGO – Illinois is asking underwriters vying for future senior manager work for advice on how best to capitalize on stopgap budget legislation that allows for the issuance of as much as $2 billion of refunding debt.

While Cook County, Ill. plots out its new money borrowing planned for later this year, finance officials will also work to close a looming $174 million gap.

Benton Harbor, Michigan has won release from state oversight.

Passage of a stopgap Illinois budget that keeps the spigot of aid at least partially flowing to the state's cash hungry public universities this year was overshadowed by fresh credit erosion.

Illinois lawmakers passed a six-month stopgap spending plan Thursday that will ensure schools open this fall and state services continue through the end of the year. The plan now awaits approval from Gov. Bruce Rauner.

The Port of Greater Cincinnati Development Authority is planning a post-July 4, $57 million bond offering that will be used finance the construction of a 239 room upper upscale hotel and conference center at the Madison Center development that is located 7 miles outside downtown Cincinnati.

What's the appeal of the tax-credit alternative? It guarantees that a holder will receive full value as long as he has a matching tax liability. That's true even if the issuing State is in a financial crisis and can't pay its bondholders.