City of Chicago, IL

Last week Mayor Rahm Emanuel selected billionaire tech entrepreneur Elon Musk's The Boring Co. to build tunnels that autonomous vehicles would zoom through at speeds over 100 mph to transport riders between the Loop and O'Hare International Airport.

The city isn't risking its money, only that Elon Musk won't deliver on his promises for an airport transit line.

Chicago Mayor Rahm Emanuel's administration and The Boring Company will begin contract negotiations on a high-speed tunnel system.

An overhaul trimmed $7 billion from the fund's pension liability, but an $11.7 billion liability remains.

Water, wastewater, and securitization deals, and possibly an O'Hare airport sale, are still to come from Chicago this year.

A banking industry official warned aldermen that some institutions would cut ties to the city if it enacted such an ordinance.

Fitch said Chicago's modernization plans may not protect O'Hare against rating pressures as debt levels swell.

Though the legal setback is "harmful" to the Chicago Park District's plan to increase pension funding, it doesn't cause a budgetary crisis, S&P said.

Moody's threw cold water on Chicago's position that O'Hare's ratings can withstand new terminal debt.

A proposed Chicago ordinance would press banks on gun control.

The district must come up with a new plan to save its pension fund from insolvency.

Chicago expects to begin tapping $4 billion of bond authority for O'Hare by early 2019.

The bonds sold for the air cargo handling facility were rated BBB.

Municipal traders said the market was slightly firmer on Tuesday, though a lack of new supply was still curtailing opportunity for investors.

Borrowing plans cleared the Finance Committee after minority aldermen complained about diversity.

The other finalist is a consortium that features Chicago-based broker-dealer Loop Capital Markets.

Chicago has mollified American Airlines enough for the airline to throw its support behind a new airline lease agreement.

Opposition from one of O'Hare's hub carriers remains a sticking point for the pricey terminal revamp.

Chicago is seeking $4 billion in initial borrowing authority to launch its overhaul of the airport's terminals.

Issuers in the Midwest sold $82.98 billion of debt last year, a 5% drop from 2016.