Midwest

CHICAGO — At its first meeting presided over by new Mayor Rahm Emanuel, the Chicago City Council on Wednesday approved his first major piece of legislation: a council reorganization.

CHICAGO — The Illinois attorney general’s office and lawyers for a liquor distributor squared off before the state Supreme Court this week over whether the state’s 2009 $31 billion public works program — and the funding streams approved to repay bonding for it — are legal.

CHICAGO — Riding high on its record oil boom, North Dakota will consider a measure that would repeal property taxes and require the state to replace the local revenue.

CHICAGO — The Chicago Public Schools’ chief financial officer, Diana Ferguson, has resigned her position effective next week, but will continue to work on a pro bono basis until a replacement is named, officials said this week.

CHICAGO — As Michigan lawmakers work to finish a fiscal 2012 budget by the end of May, fiscal officials said Monday the long-struggling state is poised to enjoy its strongest revenue growth in a decade.

The company building casinos in Cleveland and Cincinnati halted construction last week amid an ongoing debate by Ohio Gov. John Kasich and lawmakers about a final gambling tax rate.

Nebraska lawmakers last week passed a bill that eliminates an occupation tax imposed by Lincoln to help boost its budget.

A Detroit-based group opposed to Michigan’s controversial new emergency financial-management law filed petition language with the state Board of Canvassers for a referendum on it.

The Toledo-Lucas Port Authority entered into a closing agreement with the Internal Revenue Service to preserve the tax-exempt status for $3.5 million of 2005 bonds after the IRS found they were taxable.

CHICAGO — After more than two decades in office, Chicago Mayor Richard Daley on Monday hands the reins over to Rahm Emanuel, leaving behind a legacy highlighted by major bond-financed projects and infrastructure investment, but marred by the city’s daunting fiscal challenges.