Arizona

Legislation passed in Texas and other Southwest states this year seeks to increase or explore funding sources to finance water supply and infrastructure.

The ruling by a state judge comes in a lawsuit that pointed to unequal access by public school districts to local property taxes and bonds.

A flow of public dollars to private schools has raised credit concerns about public schools and spurred litigation in Southwest states.

The budget traveled a bumpy road before a package of spending bills won final passage just days before the July 1 start of fiscal 2026.

Randy Miller, 70, and Chad Miller, 41, entered guilty pleas Wednesday in the Legacy Cares securities fraud case and will be sentenced at a later date.

The Phoenix-based university will not have to pay a $37.7 million fine after the U.S. Department of Education dropped its case.

The outlook revision to positive from stable comes ahead of the airport's planned refunding and plans to issue bonds to help finance a $2.7 billion capital program.

Fallout from the Legacy Cares deal includes bondholder lawsuits against the underwriter and bond counsel, payment defaults, a Chapter 11 bankruptcy, and now fraud charges from the SEC and DOJ.

The SEC and DOJ announced charges in connection with municipal bonds issued for the Legacy Cares sports complex in Arizona, which defaulted and went bankrupt.

Houston, Phoenix, and Dallas are taking action to address fiscal challenges brought on by litigation, state actions and a ballot measure.