Midwest

Ohio officials question the constitutionality of a plan to privatize the state's lucrative liquor system in an effort to advance a $1.5 billion liquor-profit backed bond sale that would finance the deal.

The Iowa Finance Authority might come close to tapping all of its allowance under the 2008 federal Midwestern Disaster Area Bond Program with big deals for Alcoa, Cargill approved and a tentative one for a $1.2 billion fertilizer plant.

Michigan officials on Wednesday took steps to ensure that emergency financial managers remain in place at three school districts and four cities after the election board formally approved putting a measure asking voters to repeal the management law on the November ballot.

Kansas City, Mo., voters overwhelmingly approved a $500 million sewer bond referendum to help pay for projects under a $2.5 billion federal consent decree.

The Metropolitan St. Louis Sewer District will take retail orders Wednesday and price on Thursday $225 million of revenue bonds in the first installment of a $945 million bond referendum to fund projects under a $4.7 billion consent decree.

The Chicago Board of Education will sell $500 million of general obligation bonds next week for hoping the strong municipal market will cushion the blow of two rating downgrades on its borrowing costs.

Citizens Energy, the nonprofit utility that bought Indianapolis' water and sewer systems last year, will come to market Thursday with the first of what is expected to be regular sewer bond borrowings to finance a $1.7 billion, 13-year environmental compliance capital plan.

The Missouri Development Finance Board has advanced plans to issue $4.1 million of bonds to support Wells Fargo Advisors' $33 million plan to expand its downtown St. Louis campus.

A repeal of Michigan's controversial emergency management law would likely further challenge already fiscally troubled municipalities, Fitch Ratings said last week.

Outgoing Indiana Gov. Mitch Daniels last week asked the state's three gubernatorial candidates for their input on steps to implementing the new federal health care law.