Midwest

CHICAGO — The Metropolitan Water Reclamation District of Greater Chicago is conducting its first request for proposal process for underwriters as it prepares to sell $500 million of mostly Build America Bonds before the end of the year to help finance a long-term capital program of more than $2.5 billion.

CHICAGO — Chicago Public Schools said it was pleased with the final 1.2% rate the district will pay on its $257 million sale Thursday of qualified school construction bonds, given a round of negative rating actions and market conditions.

CHICAGO — The Illinois Finance Authority board this week advanced deals to help fund projects for the University of Chicago Medical Center and DePaul University and announced the successful pooling of federal recovery zone facility bond allocations from at least 15 cities and counties for Navistar International Corp.

CHICAGO — Retiring Chicago Mayor Richard Daley unveiled a $6.15 billion 2011 budget Wednesday that relies heavily on a series of one-time revenues from reserves, surplus tax-increment financing funds, and debt restructuring to close a record $654 million shortfall without the need for tax, fee, or fine increases.

CHICAGO — The Ohio Housing Finance Agency will take institutional orders Thursday on $130 million of mortgage revenue bonds offered under the federal new issue bond program, marking the agency’s first — and likely its only — new-money transaction of the year.

CHICAGO — The St. Louis Metro will complete a ­refunding Wednesday of its $150 million floating-rate revenue bond issue from 2005, using a ­structure that provides a short-term salve for its fiscal challenges while the transit agency awaits a bump in sales tax dollars from a voter-approved increase.

CHICAGO — Novi, Mich.-based Trinity Health Credit Group, one of the country’s largest health care systems, enters the market Wednesday with $276 million of debt.

CHICAGO — Iowa expects to collect nearly $300 million more in revenue during the current fiscal year than previously anticipated and projects a 3.3% increase in revenues in fiscal 2011, its revenue estimating committee announced Monday.

CHICAGO — Chicago enters the market this week with $251 million of second-lien Midway International Airport bonds to refund outstanding commercial paper and wrap up financing for a new consolidated rental car facility.

CHICAGO — Moody’s Investors Service and Standard & Poor’s have revised their outlooks on the Chicago Board of Education’s bonds to negative. They cited escalating financial challenges as the district prepares to sell $418 million of new money on Wednesday and a $243 million refunding to restructure debt next week.