Midwest

New Trier Township High School District 203's board of education will discuss borrowing plans at a meeting next week following voter approval for an $89 million bonding referendum for renovations to its Winnetka, Ill. campus.

The Missouri Joint Municipal Electric Utility Commission won upgrades from two rating agencies for its debt issued for the Plum Point coal-fired power plant ahead of a planned $200 million refunding.

The outcome of Detroit's high-profile bankruptcy highlights the growing tension between pension obligations and bond debt for distressed governments while leaving a lack of legal clarity on the treatment of general obligation bonds.

The bankruptcy judge overseeing Detroit's Chapter 9 case confirmed the city's plan of confirmation Friday, capping the largest municipal bankruptcy case in the U.S. by endorsing a plan that favored pensioners over bondholders

Standard & Poor's said Detroit's bankruptcy will not affect the agency's general obligation ratings despite "months of headlines and court battles."

Illinois' unfunded pension obligations rose $11 billion in fiscal 2014, bringing the state's total tab to $111.2 billion while the state's contributions in fiscal 2016 will rise by $682 million, according to figures compiled by the Civic Federation of Chicago's Institute for Illinois Fiscal Sustainability.

Illinois Gov.-elect Bruce Rauner urged state lawmakers not to make any major legislative decisions until he is sworn into office along with a new General Assembly.

The city of Allen Park, Mich., is preparing to refinance up to $28 million of bonds that were the target of fraud charges and a recent settlement by the Securities and Exchange Commission.

The Chicago City Council approved Mayor Rahm Emanuel and Chicago Public Schools' proposal to use $17 million in social impact bonding to expand an early education program.

Missouri Gov. Jay Nixon has tapped to civic leaders to lead a review of stadium options aimed at keeping to the National Football League's Rams in St. Louis.