Midwest

CHICAGO — Wisconsin will take competitive bids Tuesday on $212 million of new-money general obligation bonds as it tees up two revenue bond refundings to take advantage of the rise in bond prices.

CHICAGO — The Missouri Legislature wrapped things up on Friday, adjourning after completing work in recent weeks on a $24 billion fiscal 2013 budget that relies in part on some upfront savings in two upcoming bond refundings.

CHICAGO — Kansas City, Mo., Mayor Sly James has dropped plans to seek $500 million of voter-approved general obligation borrowing authority this summer in favor of a sales tax increase and a separate $500 million sewer bond question.

Michigan continues to climb out of its devastating 10-year recession and could see its unemployment rate fall to 7.4% by the end of 2014, economists and state fiscal officials said Wednesday at the Legislature’s twice-annual revenue estimating conference.

Chicago enters the market with $600 million of new-money and refunding general obligation debt, hoping investors turn a favorable eye on budgetary strides and the administration's initial steps toward repairing pension woes.

CHICAGO — Washtenaw County was forced to cover a May 1 debt-service payment for a small Michigan township that doesn't have enough money to meet its obligation on a failed special-assessment development.

CHICAGO – Janesville, Wis.-based Mercy Alliance Inc. will issue $172 million of new-money and refunding bonds Wednesday in a deal that will shed floating-rate risk in the hospital's debt portfolio.

Gov. Scott Walker’s administration last week released revenue projections showing Wisconsin is on track to close out the current fiscal biennium with a $154 million balance.

Ohio Gov. John Kasich last week reiterated his plan to continue to cut aid to local governments despite a recent climb in state tax collections.

Democrats last week appointed former state treasurer and public finance banker Kevin Boyce to the Ohio House of Representatives.