Midwest

Unions that represent state employees want Gov. Pat Quinn and the General Assembly's leaders to join in on a "summit" slated for Feb. 11 to discuss pension reforms.

Chicago collected more than $100 million in hotel taxes last year, a record level, Mayor Rahm Emanuel said last week.

JP Morgan and Citi were set to price $1.5 billion of liquor-backed bonds issued by JobsOhio Monday and Tuesday despite delaying the deal last week when the state Supreme Court announced it would hear a case challenging the state law authorizing the bond sale.

Rating agencies delivered mixed news to Illinois Friday as the state's failure to overhaul its pension system prompted a downgrade from Standard & Poor's while Moody's affirmed.

Missouri lawmakers pushing for a new state building bond program are banking on favorable interest rates, the state's solid triple-A rating, low debt levels, and the need for jobs to win support this year.

The Illinois State Toll Highway Authority board approved two slates of financial teams to underwrite roughly $1 billion of toll-backed borrowing planned in its next two financings.

Milwaukee County will price $140 million of taxable general obligation pension promissory notes Thursday to retire notes from a 2009 pension issue ahead of their bullet maturity at the end of the year.

The $1.5 billion JobsOhio bond deal set to price Wednesday and Thursday is delayed, sources said, after the state Supreme Court announced it would hear a case that could challenge the constitutionality of use of the bond proceeds.

Almost $24.75 million of limited obligation revenue bonds issued in 2005 and 2010 for the Old Redford Academy charter school in Detroit could become taxable and have been downgraded by Standard & Poor's because the Internal Revenue Service revoked the school's foundation's tax-exempt status.

Two hospitals in Chicago's western suburbs — Elmhurst Memorial Healthcare and Edward Hospital & Health Services — are the latest to merge, joining the two-year-old surge nationally of not-for-profit healthcare consolidation.