Arizona

Water agencies in Texas, Oklahoma, and Denver are selling a combined nearly $2 billion of triple-A-rated bonds this week.

The Payson Town Council's passage last month of a bond resolution using an emergency clause violated the Arizona Constitution, according to a lawsuit.

The Greater Arizona Development Authority, which has been inactive for nearly a decade, will once again offer lower cost financing for rural communities and tribal governments.

Continued economic growth and budgetary discipline could lead to an upgrade of the state's AA rating over the next two years, S&P said.

In Texas, the Austin City Council set a climate bond election for no later than November 2026, while an Arizona water authority is dealing with a funding drought.

The $238.8 million of voter-approved debt will end a 12-year drought in new money general obligation issuance by the nation's fifth largest city.

The Phoenix-based school's debt was rated a notch above junk — to BBB-minus by Fitch Ratings ahead of a refinancing of bonds from a 2021 issue.

The legislature addressed the cost of a $329 million property tax refund in the state's largest county as well as passed a fiscal 2025 budget.

A preliminary forecast showed the school's days cash on hand falling below the Board of Regents' 140 days minimum requirement for a third straight fiscal year.

The lawsuit filed in 2017 points to funding disparities when public school districts turn to local property taxes and bond issuance for capital funding.