Jim Watts

DALLAS — Public transit agencies will be hard-pressed to maintain existing systems while extending service to new areas during difficult economic times without additional sources of revenue.

DALLAS — The $8 billion in federal stimulus funds earmarked for high-speed rail development in the United States is the first installment of a program that could reshape the nation’s transportation options as significantly as has the interstate highway system.

The Committee for the Future of East Baton Rouge has raised more than $350,000 to finance its campaign for a $901 million bond package going before East Baton Rouge Parish voters on Nov. 14.

DALLAS — New Orleans Mayor Ray Nagin on Friday outlined a 2010 general fund budget that relies on more vigorous revenue collection and cuts to departmental budgets to plug a $67.7 million deficit.

The Oklahoma Board of Education told local school districts last week to expect cuts in state aid this month due to declining revenue.

Oklahoma County officials said voters will be asked next year to approve bonds for upgrades at the county jail that are required by an agreement on the facility signed with the U.S. Department of Justice.

Reduced revenue could require Kansas to again lower aid to almost 300 local school districts by as much as $70 million. The state government has already reduced financial assistance by $215 per student since January.

Little Rock expects to collect $130.8 million in revenue in 2010, $3.7 million less than expected and almost $7 million less than predicted when the city adopted its budget for 2009.

The University of Arkansas Board of Trustees unanimously approved a $30 million revenue bond issue to finance a new residence hall and an outdoor sports complex at the University of Arkansas at Little Rock.

Phoenix Mayor Phil Gordon said last week that a temporary increase in the city’s sales tax could prevent additional cuts in municipal services that have already been pared down significantly.

The Texas Higher Education Coordinating Board on Thursday approved a proposal by the University of North Texas System for a 28,000-seat football stadium that will be financed in part with $38 million of student fee revenue bonds.

DALLAS — Oklahoma Gov. Brad Henry and legislative leaders notified state agencies on Tuesday to expect monthly budget cuts through the remainder of fiscal 2010 as revenues continue to drop below expected levels.

Voters in Ascension Parish on Oct. 17 approved a request for a $100 million bond issue from the Ascension Parish-Wide School District. About 10% of registered voters in the district went to the polls to approve the measure by 5,883 votes to 1,311.

Woman’s Hospital of Baton Rouge hopes to sell bonds soon so it can proceed with a revised hospital replacement project that it deferred earlier this year due to a slack credit market.

DALLAS — Louisiana officials were gratified Tuesday with significant investor interest in the state’s first offering of new-money debt in three years.

The Texas Permanent School Fund has increased in value to $22 billion from $15.9 billion in the spring, resulting in a total return of 2.55% over the past 12 months.

Texas Comptroller Susan Combs said last week that the Texas Treasury Safekeeping Trust Co. lost $19.5 million it had invested with a hedge fund that placed the funds in a phony investment scheme operated by convicted swindler Bernard Madoff.

A proposed $700 million casino at the Kansas Speedway in Wyandotte County would generate more than $203 million in gambling revenues in 2013, according to a report provided to the state’s Lottery Gaming Facilities Review Board.

The Wichita City Council has tabled a plan that would provide proceeds from sales tax bonds for a proposed bowling and entertainment complex in the city.

Charles M. Foley, chief financial officer of the Arizona Sports and Tourism Authority, has resigned effective Oct. 31.