Midwest

The Illinois Supreme Court denied requests by Chicago, other issuers, several civic groups, and a municipal lawyers group to file briefs supporting Illinois Attorney General Lisa Madigan's defense of state pension reforms.

Michigan's proposal to raise the sales tax to generate new road funding would also generate fresh dollars for school districts, Moody's Investors Service said Friday.

The Chicago region needs $16.6 billion over the next decade for routine transit maintenance and capital spending with another $19.5 billion tacked on to the tab to cover deferred investment, the Regional Transportation Authority warned.

Illinois Gov. Bruce Rauner has imported three outsiders all with government experience to lead a "turnaround team" that includes the new position of chief financial officer to be filled by consultant Donna Arduin. He also named former Hawaii Gov. Linda Lingle and former Georgia COO Trey Childress to his team.

An Indiana state representative's bill would only allow issuers to propose borrowing and tax levy questions during general elections in order to boost voter participation.

Missouri Gov. Jay Nixon unveiled a fiscal 2016 budget that begins drawing on existing bonding authority to fund more than $300 million in projects at state facilities and public higher education institutions as the new legislative session kicks into high gear.

A proposed bill requiring Nebraska issuers to boost disclosure and stress bondholders' lack of priority over pensioners could spook national investors and drive up borrowing costs, some market participants warned state lawmakers Wednesday.

Chicago and its south suburban neighbor Harvey have struck a $20 million settlement that resolves a dispute over the suburb’s delinquent payments for city-supplied water.

Chicago-based William Blair & Co. hired veteran underwriting manager John Feery to lead its negotiated underwriting group, finalizing leadership team changes as the firm pursues its national expansion path.

Jones Day, the law firm that oversaw Detroit's bankruptcy, said it cut its fee by $18 million, leaving a $58 million final tab that it defended as reasonable given the "cutting-edge" nature of the Chapter 9 case.