Arizona

DALLAS — With Arizona's economy still struggling to recover from a deep recession, the Legislature meets Friday in special session to consider Gov. Jan Brewer’s call for extending jobless benefits to 14,697 workers who have been unemployed for at least 79 weeks.

The State Board of Accountancy has dropped its investigation into whether Surprise chief financial officer Scott McCarty unlawfully claimed he was a certified public accountant in Arizona.

Arizona’s general fund revenue collections in April totaled $827 million, the Joint Legislative Budget Committee reported last week, marking the ninth consecutive month of year-over-year growth in state revenue.

DALLAS — A temporary one-cent sales tax increase approved by Arizona voters in May 2010 has produced $100 million less than originally projected and failed to prevent $454 million in cuts to education and a $564 million rollback in health care spending, according to state reports.

DALLAS — Glendale, Ariz., has committed another $25 million to keep the National Hockey League’s Phoenix Coyotes playing in city-owned Jobing.com arena for another year, though officials have not yet identified where the money will come from.

DALLAS — The Maricopa County Community College District is surrounded by the economic troubles of the Phoenix metro area, but the 10-campus system will still carry top ratings into an upcoming $150 million issue of general obligation bonds.

Fitch Ratings downgraded the Maricopa County Stadium District two notches to BBB-minus from BBB-plus due to falling revenues pledged for outstanding bonds, analysts said last week. The outlook is negative.

DALLAS — Arizona Gov. Jan ­Brewer is considering an $8.3 billion budget that she negotiated with the Republican-controlled Legislature despite misgivings about some of the $1.1 billion in spending cuts.

DALLAS — A political fundraising scandal, including efforts to influence construction of the bond-financed University of Phoenix National Football League stadium, could cost Arizona’s Fiesta Bowl its nonprofit status and its ranking as one of the top four collegiate Bowl Championship Series games, according to an investigative report.

DALLAS — The Arizona budget bill passed by the Senate on Wednesday calls for $1.3 billion in cuts to avoid borrowing and sharply reduces funding for education.

DALLAS — Glendale, Ariz.’s plan to sell $100 million of revenue bonds to finance the sale of the Phoenix Coyotes hockey team to Chicago investor Matthew Hulsizer appeared to be on hold after the Goldwater Institute confirmed plans to challenge the deal in court.

Sales tax revenues in Tempe have climbed 13.2% since the beginning of fiscal 2011, with retail sales tax collections up 14.4%.

DALLAS — With time working against it, Glendale, Ariz., is seeking a solution to the sale of the Phoenix Coyotes hockey team that might involve a bond issue smaller than the $100 million originally planned.

Standard & Poor's put Glendale, Ariz.'s certificates of participation on negative watch as the city prepares to issue $100 million of debt to help a private investor buy the Phoenix Coyotes National Hockey League team.

DALLAS — Glendale, Ariz., is taking a downgrade as it prepares to issue $116 million of revenue bonds to keep the National Hockey League’s Phoenix Coyotes playing in city-owned Jobing.com arena.

DALLAS — A bill introduced by Arizona House Speaker Kirk Adams would reduce pension obligations by extending the retirement age to 65 and requiring police officers and firefighters to contribute more toward their benefits.

DALLAS — Faced with a weakening municipal debt market, Glendale, Ariz., is considering a private placement for up to $125 million of revenue bonds to keep the Phoenix Coyotes playing hockey in the city-owned Jobing.com arena.

DALLAS — Arizona’s current deficit is $2.1 billion, nearly triple the $825 million cited by the Legislature and Gov. Jan Brewer, according to a new study released Wednesday.

Glendale, Ariz., will issue up to $125 million of excise tax revenue bonds under a lease agreement designed to keep the Phoenix Coyotes hockey team playing in the city-owned Jobing.com arena.

The city of Surprise will use loans from a number of its accounts to cover shortfalls resulting from the misapplication of $73 million of impact fee revenues.