Midwest

The Internal Revenue Service is auditing economic development revenue bonds issued by St. Joseph County, Ind. in 2007 for Saint Mary's College.

The Illinois State Toll Highway Authority unveiled a preliminary 2015 budget Wednesday that relies on as much as $800 million of toll-backed borrowing to support $1.6 billion in capital spending.

Chicago Mayor Rahm Emanuel proposed erasing $300 million of red ink by raising parking and leasing taxes, expected savings, and cuts in a 2015 budget that delays tackling a $550 million pension reckoning.

Officials in Wayne County, Mich., are contemplating the fate of a half-built, bond-financed jail in downtown Detroit that has been abandoned for more than a year amid major cost overruns and an FBI investigation.

Stricken by cancer, Chicago Teachers Union President Karen Lewis won't try to unseat Chicago Mayor Rahm Emanuel in next year's mayoral contest.

Investors holding $113 million of bonds issued for the privately owned and operated Branson Airport in Missouri have agreed to a amended forbearance agreement that gives the struggling Ozarks air field more time to pick up operations.

Attorneys for bankrupt Detroit and bond insurer Financial Guaranty Insurance Co. said in court that they plan to finalize an agreement by Thursday, a move that would mean the city would have support from all major creditors for its bankruptcy exit plan.

Though Michigan's largest city remains mired in a historic bankruptcy, fiscal conditions appear to be improving for many of the state's other local governments, according to a new report from the University of Michigan.

The new regional authority taking over Detroit's Water and Sewerage Department should be a positive for holders of existing DWSD debt, Moody's Investors Service said Friday.

Wisconsin voters will vote next month on whether to amend the state constitution to ban the diversion of transportation fund revenues for other expenses.