Bondholders Get 40% Offer for Texas Jail
Bondholders would get 40 cents on the dollar for $23 million of bonds outstanding for a detention facility in South Texas that defaulted on its debt, according to a notice on the Municipals Securities Rulemaking Board’s EMMA Web site.
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Strong growth in traffic prompts a Moody’s Investors Service upgrade on Harris County Toll Road Authority’s senior revenue bonds.  more »
Most Arkansas polled in a recent survey do not favor a gasoline tax increase to cover a road revenue shortfall.  more »
Arkansas remained ahead of its revenue forecast three months into the fiscal year, with September income 3% above projections, according to John Shelnutt, head of economic analysis and tax research.  more »
A Glendale, Ariz., trash recycling project has fallen to a D rating by Standard & Poor’s after missing its interest payments.  more »
Despite a series of high-profile defaults that left Texas counties in possession of abandoned jails, local governments continue to issue debt for privately operated lockups.  more »
The first two major projects from the Garland school district's November 2014 bond package are now estimated to cost millions more than the price presented to voters.  more »
The international debt rating agency Moody's on Friday issued a "credit negative" warning for Kansas school districts, saying schools are "financially challenged" by Gov. Sam Brownback's block-grant funding system.  more »
In the first quarter of the Kansas fiscal year ended Sept. 30, revenues of $1.35 billion were $42.5 million or about 3% below projections, according to state Revenue Secretary Nick Jordan.  more »
Two fast-track projects to renovate Barwise Leadership Academy and McNiel Junior High School are barreling ahead as the school board approved the guaranteed maximum price for two parts of the three-phase project.  more »
Moore voters could make history soon by approving $209 million for school improvements including storm shelters to give all school children in Moore access to protection from tornadoes.  more »
A major, if often overlooked, function of county government is flood control.  more »
Arizona will have about a third of the money it needs to maintain roads and bridges over the next 25 years, according to the state auditor.  more »
A bond investor’s suspicions triggered a municipal bond trustee’s firing of a vice president but the question remains: what happened to more than $2 million?  more »

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The choice to pay or not pay debt secured by a statutory lien when bankruptcy commences is entirely in the control of the municipal debtor.

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