Midwest

The Central Indiana Regional Transportation Authority, a quasi-governmental organization that promotes public transit, said last week that it has launched a petition drive to support local funding options for public transportation.

Moody's Investors Service has upgraded by one notch to Aa2 its rating on Mettawa's general obligation debt due to the village's healthy financial position. The action comes ahead of a planned sale this week of $1.9 million of bonds.

The Chicago Board of Education last week voted to rescind a planned 4% teachers’ raise in the district’s next $6.5 billion budget as it struggles with a looming $712 million deficit.

CHICAGO - Michigan Gov. Rick Snyder has created a new school system that will take over the state's worst-performing schools, starting next year with 39 in Detroit.

CHICAGO — U.S. Sen. Mark Kirk of Illinois unveiled legislation Monday that would promote public-private partnerships for transportation projects by lifting federal restrictions on tapping private financing for airports, highways, and railroads.

CHICAGO - Wisconsin Gov. Scott Walker will spend the next week or so reviewing the $66 billion, two-year budget approved by lawmakers before signing the spending plan, which closely resembles his original proposal by dealing with a $3 billion deficit primarily with cuts.

CHICAGO — A Michigan city in receivership paid interest rates in the 6% range to sell a chunk of financial recovery bonds last week.

CHICAGO - Cincinnati is expected to enter the market Tuesday with about $80 million of unlimited-tax general obligation debt that is part of the city’s regular annual borrowing to finance capital projects.

CHICAGO - Moody's Investors Service Thursday hit Cook County, Ill., with a downgrade, affecting $3.5 billion of outstanding general obligation bonds issued by the nation's second-largest county.

CHICAGO — A New York State court judge has ordered Assured Guaranty Corp. to honor coverage of $83.3 million of Iowa's Xenia Rural Water District bonds as part of its 2009 reinsurance agreement with CIFG Assurance North America Inc.