Midwest

The Wayne County board Thursday approved a reorganization plan that is part of the county's attempt to avoid a state takeover.

An ambitious plan by Indianapolis Mayor Greg Ballard to build a $408 million new criminal justice complex as a public-private partnership is facing an uncertain fate amid strong political opposition.

Chicago will fold its conversion to fixed-rate of $800 million in floating-rate general obligation paper into one transaction pricing Wednesday with Bank of America Merrill Lynch running the books.

Moody's Investors Service's defense of its Chicago downgrade to junk took center stage at a long-planned discussion of city finances hosted by the City Club of Chicago.

A measure to overhaul Cook County’s troubled pension system advanced in the Illinois legislature, but the state Supreme Court’s recent pension ruling continues to cast a pall over the county’s efforts.

Chicago's decision to delay and rejigger $800 million of borrowing stems from the city's desire for more control over pricing scales following the city's downgrade to junk, sources said.

Nearly two weeks after the Illinois Supreme Court struck down the state’s 2013 pension overhaul, state lawmakers, local government leaders, and legal experts struggle for an alternative the court would accept.

Cook County President Toni Preckwinkle is urging Illinios lawmakers to approve county pension reform, saying it can withstand the legal challenges that doomed the state’s own efforts.

All three rating agencies affirmed Milwaukee ahead of its sale of last week of $187 million of general obligation bonds and notes and $125 million of revenue anticipation notes.

Springfield, Mo. City Utilities will take competitive bids on $515 million of revenue bonds that will refund bonds from a 2006 issue that funded a coal plant.