Midwest

CHICAGO — Following passage of a new state law aimed at assuaging investor fears of bankruptcy, the city of Ecorse next week will sell $9.3 million of financial recovery bonds, making it one of Michigan’s only municipalities to enter the bond market while under state-controlled receivership.

The Columbus City Council Monday approved legislation that advances a plan for a $400 million casino based in the city.

Ramsey County would bear none of the fiscal burden of a $350 million revenue bond issue for a new Minnesota Vikings stadium because a new sales tax would generate sufficient revenue to repay the debt, according to a report.

Moody’s Investors Service last week affirmed Allina Health Systems’ A1 rating and signaled an upgrade could be in the offing if it maintains its strong financial performance of the last two years.

The Michigan Legislature has passed a pair of bills that would lower the official municipal-population threshold for levying certain income and utility taxes to 600,000 from 750,000. The measures would effectively apply only to Detroit and allow it to continue collecting the taxes despite recent Census figures that show the city’s population fell to 713,000 during the last decade.

Illinois Gov. Pat Quinn last week announced a state partnership with the University of Illinois and a special advisory group to study the feasibility of high-speed rail service between Chicago and Champaign-Urbana and possibly to other parts of the state and neighboring cities.

CHICAGO — Michigan-based Kalamazoo College this week is privately placing $36.4 million of bonds, a move that will raise new money and take all of its bonds off the public market to escape a bond covenant that has grown too ­restrictive.

CHICAGO — Calling for a special legislative session, Illinois Gov. Pat Quinn on Monday warned that the General Assembly’s failure to authorize a capital spending bill before adjourning last week jeopardizes billions of dollars in construction projects.

CHICAGO — The Metropolitan St. Louis Sewer District has submitted a proposal to its rate-setting commission asking voters for authority to issue $945 million of bonds in coming years to fund capital projects, many of which are required under a tentative $4.7 billion agreement reached with federal authorities to settle a lawsuit.

CHICAGO — With the budget behind him, Michigan Gov. Rick Snyder said his top priority is swift passage of a bill that allows the state to enter into a public-private partnership to build a $4 billion Detroit River bridge that will be partially financed with tax-exempt bonds.