Midwest

CHICAGO — Struggling to remain afloat, Iowa’s Xenia Rural Water District is working on a final debt restructuring plan to submit to its board and may do so later this month, officials said Wednesday.

CHICAGO — The Minnesota attorney general’s office and lawyers representing state retirees in a lawsuit challenging benefit cuts will lay out their cases by the end of the month in summary judgment motions that seek a quick ruling.

CHICAGO — While other states struggle with shortfalls, North Dakota’s fiscal position is strong enough that the state’s new governor has proposed funding nearly $1 billion of projects with cash and boosting reserves to $1.2 billion by the end of 2013.

CHICAGO — The new governors of neighboring Minnesota and Wisconsin, in their inaugural addresses this week, offered similar pledges to tighten their states’ belts and focus on job creation, but veered far apart on the issue of tax increases.

CHICAGO — The new owners of the Detroit Medical Center kicked off the first phase of an $850 million capital program Tuesday afternoon, four days after closing the long-anticipated acquisition.

CHICAGO — Moody’s Investors Service last week cut its rating one notch to A2 and assigned a negative outlook to nearly $1 billion of Indianapolis water bonds.

CHICAGO — Illinois lawmakers return to work Monday to wrap up a lame-duck session that could see votes on a huge borrowing proposal, an income tax increase, and a casino expansion plan that would be the largest in the state's history.

Standard & Poor's said Wednesday it raised its long-term and underlying rating to AA-minus from A on the Chelsea District Library's outstanding general obligation bonds as a result of the Michigan library's recent strong financial performance.

Michigan will allow local governments struggling with debt to refinance it at a net present-value loss under a new law passed by legislators and signed by outgoing Gov. Jennifer Granholm last week.

The Racine Unified School District will ask voters on the April ballot to approve $83.5 million of general obligation borrowing.