Two School Districts Add $1B to Bond Ballot
Two school districts in the Houston area will account for more than $1 billion of bonds on the November ballot after their boards approved calling for voter support of the measures.
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A state fee on so-called "small tobacco" companies that were not part of a 1998 settlement with states' attorneys general is unconstitutional, a Texas appeals court ruled.  more »
A $235 million advance refunding of Utah general obligation bonds could be sidelined by falling Treasury rates, according to state Treasurer Richard K. Ellis.  more »
Phoenix has formed a citizens committee to plan for expansion of the city's light-rail after Mayor Greg Stanton said he wanted to triple the length of the existing system over three decades.  more »
DALLAS — A $90 million Irving, Texas convention center hotel deal combining public and private financing has fallen through, city officials said. Mortensen Development told the Irving City Council that it could not meet an August deadline for finding its share of financing for the project. Mortenson, the international developer awarded the Irving contract on Feb. 11, 2013, expected to break ground on the hotel this year, with completion expected in 2015. …  more »
After opening its light rail line to the airport four months early, Dallas Area Rapid Transit officials are pressing on with bond-financed rail development.  more »
Running four months ahead of schedule on the light-rail connection to Dallas-Fort Worth International Airport that opened Monday, Dallas Area Rapid Transit leaders are taking no time to catch their breath after five years of intensive bond-financed development.  more »
The felony indictment of Texas Gov. Rick Perry covers actions he took against the Travis County District Attorney's office while its investigators looked into grants to his campaign contributors from a $3 billion cancer research bond fund.  more »
Texas will issue $5.4 billion of tax and revenue anticipation notes to smooth cash flows to school districts in the 2015 fiscal year  more »
The long-running power struggle at the University of Texas that led to a legislative censure of UT Regent Wallace Hall is credit negative for the UT System, according to Moody's Investors Service.  more »
The Fannin County Public Facility Corp. in Texas has settled tax law violations with the Internal Revenue Service by agreeing to pay $1.75 million and redeem all of the outstanding bonds from the $30.78 million it issued in 2008 to finance a jail.  more »
The largest teachers' union in Kansas is seeking to overturn provisions in the state appropriations law that strips tenured teachers of their rights to appeal firings.  more »
Texas' largest county issued $196 million of road bonds with top ratings drawing strong demand from institutional investors.  more »
Fort Worth will ask voters to approve using $225 million of public funds with matching private donations to build a $450 million multipurpose arena in the city's Cultural District.  more »

Issuance of municipal MSA tobacco bonds by states was the subject of a highly critical article published by ProPublica. The article attempts to make a case that states erred in deciding to issue tobacco bonds. The article was widely circulated across social media. As we frequently observe, the national media focus on the muni market is appreciated, but the facts got muddied in the pursuit of a good story.

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