Midwest

Michigan’s recent legislative action reforming its largest retirement system is a credit positive for local school districts, Moody’s Investors Service said last week.

Michigan Gov. Rick Snyder and Attorney General Bill Schuette last week filed court papers seeking to dismiss a ballot proposal that would protect collective bargaining rights by making them part of the state constitution.

Polk County supervisors approved placing a $50 million bond question on Iowa’s Nov. 6 ballot to finance conservation improvements and recreational projects over the next two decades.

Moody’s Investors Service has stripped the village of Matteson, Ill., of its investment-grade rating as it grapples with a sharp deterioration of its fiscal position.

The Rockford School District will ask voters on the November ballot to approve new borrowing to support a $311 million, 10-year capital program needed to upgrade aging schools.

Illinois Gov. Pat Quinn on Tuesday vetoed a controversial gambling expansion bill that would have authorized five new casinos and allowed slots at racing tracks.

With its pricing this week of $15 million of extendible rolling tender variable-rate bonds, the Milwaukee comptroller will complete a plan introducing new floating-rate products that don't require liquidity support to the city's debt portfolio.

Minnesota will draw from reserves and bond proceeds to help fund a $167.5 million relief package approved by lawmakers Friday for areas hard hit by June storms and flooding.

City Colleges of Chicago has tapped Chicago Public Schools' deputy chief financial officer Melanie Jopek Shaker to shepherd its finances as it embarks on capital program.

Moody's Investors Service on Thursday weighed in on Illinois' failed special session on pension reform, warning that ongoing inaction is a drag on the state's credit due to the strain on its balance sheet.