Midwest

Cincinnati re-launched construction Thursday on a $133 million, partly bond-funded streetcar line a week after the city council unexpectedly voted to revive the controversial project after a pledge of private support.

Bankrupt Detroit will shave about $65 million off its costs to terminate interest-rate swaps under a new settlement agreement reached with its bank counterparties the day of Christmas Eve.

A bond insurer and Detroit's two pension funds are among five appointees to the committee named to represent the interests of unsecured creditors as the city proceeds through Chapter 9.

State budgets seem to be "stabilizing and settling into a period of modest growth," but recovery from the Great Recession is still "a work in progress," a report from the National Conference of State Legislatures found.

The Chicago Infrastructure Trust has delayed to January from December the timeline for bringing its inaugural deal to the City Council for approval.

Former Ohio Deputy Treasurer Amer Ahmad, recently Chicago's comptroller, pleaded guilty in federal court to charges he orchestrated a kickback scheme involving state investment business.

The Lombard, Ill., village board rejected a request to cover a shortfall in the January debt service payment on bonds issued for a hotel and conference center.

Detroit's federal bankruptcy judge urged the appellate court to reject an appeal of his recent rulings on the city's eligibility for Chapter 9 and declined to recommend an expedited appeal process.

CHICAGO – The Detroit City Council approved two of three measures needed to advance plans for a partially bond-financed $650 million downtown development that includes a new hockey arena and entertainment district.

CHICAGO - Detroit told the bankruptcy court Friday it may sue its interest-rate swap counterparties without a revised settlement to terminate the swaps under more favorable terms. The warning raises the stakes on mediation.