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CHICAGO - The Illinois Finance Authority board Tuesday advanced borrowing plans for several retirement communities and authorized up to $480 million in bonds for the University of Chicago to refund debt and fund projects, including a new research center for its molecular engineering program and astronomy and astrophysics work.
October 11 - Ohio
Ohio auditor Dave Yost last week put Akron on a fiscal caution status, marking the first time the state has used the new criteria.
October 11 -
The Kansas City Council last week asked a Jackson County Circuit Court judge to support its bid to block Clay Chastain’s $2.5 billion light-rail ballot initiative.
October 11 - Minnesota
Moody’s Investors Service has downgraded Becker Independent School District 726’s general obligation credit by two notches due to its declining fiscal position. The rating was cut to A2 from Aa3 on $23 million of debt.
October 11 - Michigan
Moody’s Investors Service last week downgraded Lansing to A1 from Aa2, warning that the Michigan capital faces significant declines in property valuation and has a history of operating deficits.
October 11 - Indiana
Indiana collected $31 million more than projected last month and $164 million more than it collected during the same period last year, according to the state’s budget office.
October 11 -
The Chicago Transit Authority Monday plans to cut 200 management positions to generate $22 million in annual savings as it tries to chip away at a $277 million shortfall in its next budget.
October 11 - Illinois
CHICAGO - Two Bank of America Merrill Lynch bankers based in Chicago, Dan Dean and Ivan Samstein, were among seven public finance banking professionals cut by the firm last month, sources said.
October 7 -
CHICAGO - A close look at Flint, Mich.'s long-standing fiscal problems provides a glimpse into the challenges facing many of America's older industrial cities, according to a case study released last week by Michigan public finance scholars.
October 7 - Illinois
CHICAGO - The president of Cook County, Ill., fired the county's comptroller Wednesday, fallout from a $90 million accounting error that inflated the general fund and partly prompted a Moody's Investors Service's downgrade.
October 6
