Toll Roads Risky in Undeveloped Areas, Fitch Says
The plight of State Highway 130 outside Austin, Texas, is a stark example of the risks involved in building toll roads in undeveloped areas, according to Fitch Ratings.
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The Kansas Public Employees Retirement System is under investigation by the Securities and Exchange Commission for its pension disclosure practices, a probe that began in 2010, according to a KPERS spokeswoman and bond documents.  more »
Kansas Public Employees Retirement System has crossed the 60% funding threshold for its pension fund with strong investment returns.  more »
The online securities auction site Zions Direct – intent on becoming the "eBay of fixed income" -- is looking for a chance to price its first municipal primary market issue, according to chairman David Hemingway.  more »
Arizona Gov. Jan Brewer said the state will appeal a state district court order to restore $1.6 billion in school funding.  more »
Colorado Gov. John Hickenlooper will leave a decision on statewide oil and gas drilling restrictions to voters instead of calling a special session.  more »
Two former attorneys general for Utah, Mark Shurtleff and John Swallow, took bribes in criminal and civil cases, prosecutors said in charges filed in the state's 3rd District Court in Salt Lake City.  more »
Moody's Investors Service downgraded University Medical Center Corp.'s $330 million of debt to Baa2 and retained a negative outlook as a possible sale of the Tucson, Ariz. hospital develops.  more »
The New Mexico Finance Authority will raise $57 million for its public project revolving loan fund with a competitive sale of revenue bonds.  more »
Unpaid medical bills dropped 31% in the first four months of the year after Arizona expanded Medicaid coverage to the working poor, according to a survey by the Arizona Hospital and Healthcare Association.  more »
Moody's Investors Service shifted its outlook on Arizona Sports and Tourism Authority's A1 rating to negative after a court overturned the car-rental tax backing $282 million of stadium bonds.  more »
The State Highway 130 Concession Co. that operates a new, lightly traveled toll road outside Austin says it has reached new terms with its lenders and is not in default.  more »
The Kansas Department of Transportation will bring $250 million of new money revenue bonds to market for major construction projects under its T-Works program.  more »
After being thwarted in the 2013 legislative session, the University of Texas Board of Regents agreed to seek $1.9 billion of tuition revenue bonds in the 2015 session.  more »

Since the release of the Securities and Exchange Commission's final municipal advisor registration rule in September 2013, the Bond Dealers of America and its members have dedicated significant efforts and resources to work with regulators, educate issuers and ultimately be prepared to make a successful implementation of the rule.

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