Arizona

Andrei Cherny, the Democratic candidate for Arizona treasurer, said if elected he would use the office's authority to audit government spending from the Legislature down to the local level.

Preliminary budget numbers for fiscal 2012 outlined for the Scottsdale's budget review commission last week indicate the city may be facing a $28.4 million revenue shortfall.

DALLAS — Glendale, Ariz., and the National Hockey League are considering new offers for the Phoenix Coyotes after a deal to keep the team playing in the city’s bond-financed arena hit a roadblock, according to reports.

DALLAS — Phoenix is preparing to issue $710 million of revenue bonds next week to ­finance a five-mile automated transit system linking Sky Harbor International Airport’s terminal to the city’s new light-rail line as well as parking and rental car facilities.

DALLAS — In the wake of a Moody’s Investors Service downgrade, the Arizona School Facilities Board is preparing to sell $62 million of refunding certificates of participation to help overcome the state’s record budget shortfall.

DALLAS — Moody’s Investors Service yesterday downgraded Arizona’s issuer credit rating to Aa3 from Aa2 as the state faces continuing financial stress and diminished borrowing capacity.

DALLAS — The Arizona Water Infrastructure Finance Authority plans to issue $138 million of revenue bonds next week, but executive director Judy Navarette says that amount could change if conditions become opportune for a refunding component.

DALLAS — Arizona is rushing to revise disclosure notices to the bond market after unexpectedly losing a line of credit with Bank of America, said John ­Arnold, director of the governor’s Office of Budget and ­Strategic Planning.

DALLAS — After weathering one of the worst fiscal years in its history, Arizona starts the next one tomorrow without a short-term borrowing agreement.

DALLAS — Amid tightening finances, the Arizona Board of Regents will issue $34 million of taxable and tax-exempt bonds this week as part of the state “Speed” stimulus program.

DALLAS — As the Phoenix City Council prepares to pass an austere $1 billion budget, officials are seeing signs of economic recovery.

DALLAS — With only one bid for the Phoenix Coyotes on the table, the Glendale, Ariz., City Council has 60 days to negotiate a lease with an investor group promising to keep the National Hockey League team in the city’s Jobing.com arena.

DALLAS — Arizona expects to raise $300 million for its general fund today by mortgaging state office buildings, prisons, and other property in its second issue of certificates of participation this year.

DALLAS — Under the latest plan to keep the Chicago Cubs in Arizona, the city of Mesa would raise $84 million to finance a spring training facility without a state bond issue.

DALLAS — Facing the same revenue squeeze choking every Arizona city, Tucson took a hit to its strong credit ratings as it prepares to market $100 million of certificate of participation next month.

DALLAS — Arizona will be spared nearly $1 billion in spending cuts after voters approved a three-year sales tax increase to bolster falling revenue.

DALLAS — As Arizona voters go to the polls today to decide whether to boost revenues by $1 billion through a temporary sales tax increase, the distressed state is also preparing to issue $450 million of lottery bonds to keep its wobbly budget in balance.

DALLAS — In an effort to protect its $180 million investment in the Jobing.com Arena, Glendale, Ariz., is willing to cover up to $25 million in losses for the National Hockey League’s Phoenix Coyotes to keep them playing there.

DALLAS — Boycotts in the wake of Arizona’s tough new immigration law could add pressure to the state’s slumping economy and further weaken revenue streams for sports and tourism bonds, industry experts said.

DALLAS — Amid Arizona’s deep economic decline, ­Phoenix is considering shelving $250 million of capital improvement projects that would have been financed by general obligation bonds.