Midwest

CHICAGO — Indiana’s Purdue University will price $171 million of new-money and refunding bonds Thursday, and follow the sale with a $117 million borrowing in the next few weeks that will mark its fourth trip to market this year.

CHICAGO — Chicago’s reliance on non-recurring revenues over deep spending cuts to balance the proposed $6.2 billion 2011 budget is costly and only delays a financial reckoning that could lead to steep tax increases and-or harsh budget cuts, a fiscal watchdog group warned.

CHICAGO — With a water revenue deal pricing Wednesday and a pending general obligation deal, Chicago has stepped up its investor-relation efforts as it seeks to minimize the premium demanded by buyers of paper from Illinois-based borrowers due to the state’s liquidity and budget crisis.

CHICAGO — The Northeast Ohio Regional Sewer District, which serves the Cleveland area, Thursday will sell $338.3 million of Build America Bonds in its largest-ever deal.

CHICAGO — The Omaha Public Power District will hit the market Thursday with $120 million of taxable Build America Bonds while delaying a $125 million refunding issue amid lower-than-expected market savings.

CHICAGO — The Illinois Finance Authority has launched a new state-supported borrowing program for its local government, school, not-for-profit, and business clients aimed at lowering their borrowing costs to finance energy-efficiency projects.

CHICAGO — The Ohio Turnpike Commission will refund $130.3 million of bonds Monday to achieve savings of nearly $10 million over the life of the debt.

CHICAGO — Chicago’s heavy use of reserves and other non-recurring revenues to balance its proposed 2011 budget triggered a downgrade Thursday of its general obligation rating to AA-minus by Fitch Ratings.

CHICAGO — The election of a new administration to rule Cook County presents a rare chance to overhaul the county’s troubled fiscal policies and government structure, a Chicago-based watchdog group says in a new report.

CHICAGO — The board of the Detroit Medical Center voted to extend the deadline for its $1.5 billion acquisition by a for-profit Tennessee health care company to Dec. 31, saying the parties were still waiting for state regulatory approvals.