Jim Watts

DALLAS — State and local officials dealing with the massive oil spill in the Gulf of Mexico criticized BP’s response to the incident during Wednesday’s special two-hour briefing to the Louisiana Legislature.

The Louisiana Senate Finance Committee is expected to extensively revise the fiscal 2011 budget bill adopted by the House when it begins considering the measure on Monday.

DALLAS — The Louisiana House Ways and Means Committee has backed an 11-point outline of how the state should finance transportation projects.

Most property owners in Travis County could expect a higher property tax bill if commissioners adopt last week’s revenue estimate from the county auditor’s office.

The Texas franchise tax on businesses that was expected to compensate for a court-ordered reduction in local property taxes will bring in $3.6 billion in fiscal 2010, far less than the $4.3 billion that had been expected.

Oklahoma has collected $107.5 million in gambling fees from 110 tribal casino operations through May, state Treasurer Scott Meacham said last week. Total collections in fiscal 2010 are estimated at $120 million.

Heavy-load road traffic associated with natural gas drilling in northwest Arkansas is causing highway damage that will cost much more to repair than the state highway department is receiving from the severance tax on gas.

Arkansas revenue in May totaled $401.4 million, up $18.8 million from May 2009 and $37 million more than expected.

Glendale has transferred $25 million from its $415 million enterprise fund investment account to a special escrow account in its efforts to keep the National Hockey League’s Phoenix Coyotes in the city’s Jobing.com Arena for the 2010-11 season.

DALLAS — Louisiana state senators have endorsed key elements of Gov. Bobby Jindal’s fiscal plan for dealing with a revenue shortfall estimated at $3 billion over the next two fiscal years.

The New Orleans Regional Transit Authority will ask the Louisiana State Bond Commission to approve a $75 million offering to help finance a $165 million expansion of the city’s streetcar system.

DALLAS — Oklahoma investment banking veteran Chris Cochran has been named senior vice president and managing director for public finance at BOSC Inc., the broker-dealer subsidiary of BOK Financial Corp.

DALLAS — Arkansas will refund three series of highway bonds with this week’s negotiated sale of $256.97 million of five-year general obligation bonds that will lower debt-service costs in fiscal 2011 by an anticipated $11 million.

Don Moya, currently deputy secretary for finance and operations at the New Mexico Public Education Department, has been appointed chief financial officer at Albuquerque Municipal School District No. 12.

Kansas Gov. Mark Parkinson traveled across the state last week for ceremonial signings of a long-term, $8.2 billion transportation program. The effort will be financed with proceeds from an estimated $1.7 billion in revenue bonds, a portion of a 1% sales tax increase, and higher fees for heavy trucks.

Sales tax revenue in North Little Rock totaled $1.4 million in May, some $100,000 more than in May 2009 and 6.2% higher than expected.

The Flagstaff City Council has put off until later this summer a staff proposal to increase residential water bills by 35% over the next five years. Utility officials said the higher rates are needed to avoid a deficit.

The Phoenix City Council last week voted to defer almost $200 million of bond-financed projects until property valuations rise enough to support the additional debt without increasing the city’s secondary property tax.

DALLAS — Louisiana Gov. Bobby Jindal said Tuesday he would attempt to negotiate a budget dispute that is hampering the state’s efforts to deal with a revenue shortfall in fiscal 2010.

Natural gas drilling in the Haynesville Shale formation in northwest Louisiana in 2009 increased state and local tax collections by more than $912 million, according to a new study financed by the Louisiana Oil and Gas Association.