Midwest

With the rollout of a new final EPA rule, Midwest municipalities are seeking ways to finance lead pipe replacement efforts, including through revenue bonds.

Northern Illinois University is going to market with $62 million of certificates of participation to finance energy-saving projects affecting 50 buildings.

Chicago Mayor Brandon Johnson on Wednesday proposed a $17.3 billion fiscal year 2025 budget that calls for a $300 million property tax increase, but does not touch pension funding levels.

After a strong jobs report this month drove mortgage rates higher, the Midwest is seeing more bonds financing loans to single-family and multifamily homebuyers.

The Michigan Finance Authority closed on $79.5 million of distributable state aid fifth lien and LTGO financial recovery refunding bonds issued for Detroit.

The correction to the municipal market has improved muni to UST ratios while uncertainty hangs over ahead of the election. J.P. Morgan's Peter DeGroot said the firm expects the end of next week "will mark the end of the difficult technical period in 2024 and believe that net supply in November will lead to better valuations broadly in the municipal market."

The Chicago City Council this week approved a plan to refinance $1.5 billion of the city's debt. The city expects to issue the bonds in the fourth quarter.

More project finance deals are part of FHN Financial's plans to grow its municipal finance business.

Three of the six conservation referendums on Midwest ballots are for bond authorizations; one in Illinois and two in Iowa.

Public pension benefit improvements could put credit pressure on states that enact them, the rating agency said this week.