Midwest

Chicago Mayor Rahm Emanuel will unveil his proposed 2016 budget Sept. 22, giving market participants a few days to digest his plan for stabilizing city finances before hosting investors on Sept. 25.

Investment banks interested in working on Wisconsin's financing for a new $500 million Milwaukee Bucks professional basketball arena have until Sept. 1 to submit their qualifications, as officials want to get the deal done by the end of the year.

Missouri will begin tapping about $300 million in borrowing authority when its sells $60 million of high-grade special obligation bonds Tuesday for renovations to the state capitol and other state and university building projects.

Detroit's finance director had no complaints Thursday about the steep premium the city paid to access the municipal market for the first time since exiting Chapter 9.

Illinois Gov. Bruce Rauner signed legislation Thursday that allows the Metropolitan Pier and Exposition Authority to make its debt payments even without a state budget in place.

Michigan is putting the word out to struggling municipalities that a $5 million grant program is available to help fund special projects that could help free up tax revenue for key services.

Moody’s Investors Service stripped the limited tax general obligation bonds of the Cook County Community School District 147 in Dixmoor, Illinois of their investment grade rating.

The Missouri Development Finance Board signed off on tax credit allocations to support the state-backed financing plan for a new $1 billion St. Louis Rams professional football stadium.

Detroit will price its first post-bankruptcy borrowing Wednesday after a full-court press on investors that emphasized state backstops that won the deal an A rating.

Illinois Gov. Bruce Rauner’s latest offer to shore up the finances of Chicago Public Schools fell flat with Democratic legislative leaders who don’t like the conditions attached.