Infrastructure

The Phoenix City Council has approved a $103 million construction contract for the first phase of a $590 million renovation of Terminal 3 at Sky Harbor International Airport.

The Illinois State Toll Highway Authority unveiled a preliminary 2015 budget Wednesday that relies on as much as $800 million of toll-backed borrowing to support $1.6 billion in capital spending.

Virginia officials would have to notify lawmakers about potential risks of new transportation P3 agreements under proposed guidelines.

Investors holding $113 million of bonds issued for the privately owned and operated Branson Airport in Missouri have agreed to a amended forbearance agreement that gives the struggling Ozarks air field more time to pick up operations.

More city finance officers reported improved fiscal conditions in fiscal 2014 than in the 29-year history of the National League of Cities' city fiscal conditions survey. However, the cities are still not fully recovered from the economic recession, the NLC said in its report on the survey.

Moody's Investors Service on Oct. 13 downgraded Long Beach, Calif. Airport Enterprise to A3 from A2 and revised the outlook to stable from negative affecting $117.5 million in outstanding senior airport enterprise revenue bonds.

Treasury Secretary Jack Lew says there is a growing bipartisan consensus in Congress on long-term federal transportation spending.

Metro-North Railroad completed construction of a $5.7 million bridge in New Hamburg, N.Y.

State debt issuance has been below average and is likely to remain restrained in the near future despite the fact that infrastructure needs are large, Standard and Poor's said in a report released Monday.

Wisconsin voters will vote next month on whether to amend the state constitution to ban the diversion of transportation fund revenues for other expenses.