Midwest

As the JobsOhio Beverage System prepares to sell $1.5 billion of bonds this week to finance a long-term lease of Ohio's liquor system, investors say a chief concern is an unsettled lawsuit challenging the privatization and lack of a back-up pledge in case of an unfavorable court ruling.

Illinois will take competitive bids on $500 million of GOs later this month in its first borrowing of the New Year and first test of market reaction to the General Assembly's failure to overhaul pensions.

Michigan Gov. Rick Snyder urged lawmakers to pass legislation to boost gas taxes and vehicle fees to raise at least $1.2 billion of new annual revenue for transportation infrastructure.

The Regional Transportation Authority of Illinois board approved its $3.7 billion 2013 budget on Wednesday after resolving a standoff with one of its service boards over its plans to borrow $1 billion over the next five years.

Indiana Gov. Mike Pence presented a $29 billion two-year spending plan that features an income-tax cut that totals nearly $800 million and sets aside $347 million in new transportation dollars.

Iowa Gov. Terry Branstad unveiled a proposed $6.5 billion fiscal 2014 budget that offers property tax relief he said the state can afford with an $800 million surplus after several years of belt-tightening.

A long-awaited review of the state of Chicago's retiree healthcare system concludes that the cash-strapped city can't afford to keep subsidizing its other post-employment benefits at existing levels.

Ohio State University comes to market Wednesday with $350 million of subordinate-lien bonds that will be used to build new housing to finance a plan that requires all freshmen and sophomores to live on campus by 2016.

Gov. Dave Heineman last week announced an agreement between the University of Nebraska and Nebraska State College System that would allow for a two-year tuition freeze and increase state funding for the schools

The treasury department is replacing Benton Harbor's long-time emergency financial manager, Joe Harris, on Feb. 1.