Arizona

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.

DALLAS — Faced with recurring budget gaps, Arizona Gov. Jan Brewer is proposing a series of steps designed to improve the state economy, including budget cuts and financial incentives for business.

Voters in Arizona approved seven out of eight school bond proposals worth a combined $447 million as Mesa approved $84 million for a new Chicago Cubs training facility, along with $202 million for capital needs.

DALLAS — Standard & Poor’s has revised its outlook to negative from stable on Glendale, Ariz.’s general obligation bonds.

DALLAS — Tempe lost its Aaa rating from Moody’s Investors Service Tuesday due to falling revenues and the ongoing economic decline that has forced Arizona state and local governments to cut spending.

DALLAS — In the last quarter of this year, Arizona cities will face lasting decisions on how much they value sports franchises in a struggling economy.

DALLAS — The Arizona Transportation Board will complete its pricing of $180 million of revenue bonds Tuesday in a deal that will finance construction of highways in Maricopa County, including Phoenix and its suburbs.

DALLAS — Amid slowing growth in its service area, Arizona’s Salt River Agricultural Improvement and Power District will issue its first Build America Bonds next week as part of a $750 million deal.

DALLAS — After years of struggling to keep up with a rapidly growing state population, the Arizona School Facilities Board goes to market this week with $100 million of certificates of participation and something entirely new — school enrollments that appear to be leveling off.

DALLAS — Revenue from a temporary one-cent sales tax designed to balance Arizona’s budget fell 10% short of projections the first month the tax was collected, officials said.

The Chicago Cubs will campaign strenuously in favor of a financial package to keep the team's spring training operations at its long-time home of Mesa. A vote on the proposal is set for the general election on Nov. 2.