Midwest

Missouri will offer its first new-money sale in seven years with its top ratings intact as analysts say it's too early to tell whether a newly approved constitutional amendment or tax cut package will undercut state finances.

A Chicago-based fiscal watchdog group praised Cook County, Ill.'s proposed 2015 $3.7 billion budget for tackling a deficit without any new taxes, but warned the "enormous" problems lie ahead tied to pension problems and the county's massive public health system.

An influential Chicago area planning agency will press state lawmakers to establish a regional infrastructure fund supported by a quarter-cent sales tax increase with its eye on financing transportation, water, and open space projects.

Moody's Investors Service downgraded McLean County School District Number 87 in Bloomington, Ill. one notch to Aa2 as it prepares to come to market with a $20 million new money and refunding issue.

Moody's Investors Service has downgraded Iowa-based Algona Municipal Utility's electric revenue bonds by one level to Baa1 over its fiscal struggles.

The federal judge overseeing Detroit's bankruptcy has ordered mediation to resolve a dispute over the city's legal bills, which total $140 million and are climbing.

For the fourth time, Posey County, Ind. is remarketing $1.26 billion of short-term notes to raise funds for a controversial $2.5 billion fertilizer plant.

The fall meeting of the Municipal CFO Forum slated for Thursday and Friday in Chicago will focus on "financial communications."

Michigan Gov. Rick Snyder has hired public finance veteran and former New York Lt. Gov. Richard Ravitch to act as senior financial advisor for a new financial review board that will oversee Detroit's finances as the city emerges from bankruptcy.

Bruce Cole, the head of Mamtek USA, the firm that triggered Moberly, Missouri's default on $39 million of municipal bonds sold for a failed sucralose plant, received a seven year prison sentence for theft and securities fraud.