Midwest

Cook County, which includes Chicago, is celebrating the release of its comprehensive annual financial report within six months of the close of the fiscal year, marking the first time in 10 years the county has done so.

Gov. Pat Quinn this week signed legislation that establishes the position of state actuary to provide oversight of Illinois’ five pension funds.

Fitch Ratings Friday lifted its negative rating watch on Detroit's $1.5 billion of pension certificates of participation after the city made a scheduled $34.2 million debt service payment.

Michigan and Canadian officials Friday announced an agreement to build a new $4 billion, largely bond-financed trade bridge that has Canada taking on nearly all of the financial risk for the massive project.

The Internal Revenue Service has closed an audit without changing the tax-exempt status of $219.22 million of bonds that were issued by the curators of the University of Missouri in 2006.

Illinois Gov. Pat Quinn last week signed sweeping health care legislation that dramatically eases the Medicaid funding burden on state coffers while defusing a fiscal threat posed to not-for-profit hospitals.

Moody's Investors Service pushed Detroit further down into junk-bond territory over escalating political risks that challenge the beleaguered city's ability to give its fiscal consent agreement with Michigan enough time to stabilize the city's finances.

An Ingham County, Mich., Circuit Court judge threw out a lawsuit challenging Detroit's consent agreement with Michigan, allowing the city to narrowly avert a cash crisis that threatened its ability to make a Friday bond payment.

CHICAGO – Standard & Poor’s said in a special report Wednesday that its B rating on Detroit’s limited-and unlimited-tax bonds remains unchanged following an Ingham County, Mich., Circuit Court judge’s dismissal of a lawsuit challenging the city’s consent agreement with Michigan.

CHICAGO — North Dakota voters overwhelmingly rejected a ballot measure Tuesday to abolish property taxes, allowing local governments to breathe a sigh of relief, since the measure had posed a challenge to their fiscal and debt management.