Midwest

CHICAGO — The Indiana Senate could vote as early as Tuesday on a bill that would allow fiscally distressed cities and towns to file for bankruptcy.

CHICAGO — New Minnesota Gov. Mark Dayton called on lawmakers Monday to support a proposed $1 billion capital bonding budget he billed as an economic stimulus package needed to create jobs while improving infrastructure.

Chicago wants more time to improve the funded status of its fire and police pension funds and increase employee contributions in order to reduce the burden on taxpayers of reforms signed into law by Gov. Pat Quinn earlier this year.

CHICAGO — Allowing a lower court ruling invalidating Illinois’ $31 billion capital budget to take effect would “wreak havoc” on state operations and finances, the attorney general’s office warned Friday in its request that the state Supreme Court stay the decision.

CHICAGO — New Ohio Treasurer Josh Mandel has tapped a former Squire, Sanders & Dempsey LLP public finance attorney to oversee the office’s debt issuance.

CHICAGO — Chicago has backed off from its plan to sell $1.1 billion of O’Hare International Airport bonds next week as it fights a lawsuit filed by the airport’s two largest carriers challenging its authority to finish work on an $8 billion expansion plan without airline consent.

CHICAGO — Iowa’s new governor, Terry Branstad, unveiled a nearly $6.2 billion budget for fiscal 2012 that trims more than $700 million in spending while maintaining healthy reserve levels and providing tax relief for businesses.

CHICAGO — Three weeks after the Federal Trade Commission sued Promedica Health System, arguing it violated antitrust rules, the Ohio-based hospital chain is keeping a $249 million new-money deal on hold.

CHICAGO — Pontiac, Mich., became Fitch Ratings’ lowest-rated U.S. city Tuesday after the agency downgraded the city’s general obligation debt to CCC.

CHICAGO — Indianapolis hopes to start reaping the benefits this year of a $1 billion downtown development that features an expanded Indiana Convention Center connected to a new football stadium and the world’s largest Marriott hotel complex.