Midwest

CHICAGO - Illinois wrapped up its election of new underwriting, financial advisory and bond counsel pools this week, significantly expanding to 25 the number of firms qualified to serve in the top spot on the state's negotiated sales while narrowing its bond counsel to one: Mayer Brown.

CHICAGO - Detroit Public Schools hopes to enter the market in the next two weeks to float a deficit bond issue that would eliminate two-thirds of its red ink.

The Ohio Housing Finance Agency last week approved the issuance of $15.5 million of tax-exempt multifamily bonds that will be used to renovate affordable housing properties in several counties across the state.

North Dakota said last week it has reached a new record high in daily oil production. Production reached 423,550 barrels a day, according to the Department of Mineral Resources.

Minnesota Housing Finance Agency deputy commissioner and chief financial officer Patricia Hippe is moving on to the Colorado Housing and Finance Authority next month.

Minneapolis Mayor R.T. Rybak this week proposed a 2012 budget that cuts spending and jobs to hold the city’s property tax levy steady while increasing debt issuance for street improvements.

Wayne County officials will break ground Thursday morning on a new $300 million, mostly bond-financed lockup in downtown Detroit.

Moody’s Investors Service downgraded the Winterset Community School District’s rating by one notch to A2 due to a narrow but improving financial position. The action affects $18 million of outstanding general obligation debt.

Fitch Ratings downgraded to A from A-plus its rating on Reid Hospital and Health Services last week, warning that the Richmond, Ind., facility continues to suffer from operating losses. Fitch revised the outlook to stable from negative.

Chicago-based Mercy Hospital is discussing some form of a union with Novi, Mich.-based Trinity Health Corp., according to published reports.