Arkansas

The Arkansas General Assembly adopted the state’s $4.73 billion general budget for fiscal 2013 on Friday, wrapping up the biannual fiscal session in 19 days instead of the allowed 45.

The Little Rock, Ark., Board of Directors approved a plan last week that would allocate revenues from a sales tax increase toward capital projects in the city.

Voters in North Little Rock School District No. 1 last week approved a property tax increase to support up to $200 million of 31-year general obligation bonds.

The Arkansas Higher Education Coordinating Board has approved the sale of $19.6 million of housing and student revenue bonds by the Arkansas State University Board of Trustees.

CHICAGO — Chicago-based Loop Capital Markets LLC has opened a public finance office in Little Rock, Ark., the first in a series of new regions it hopes to establish a presence in this year as it extends its reach from major metropolitan areas to smaller urban markets.

Arkansas Gov. Mike Beebe wants to use $30.5 million of the state’s $72.1 million surplus to help several agencies make it through fiscal 2012, which ends June 30.

The Arkansas Trucking Association plans to seek voter approval next year for an increase in the state tax on diesel fuel to finance highway construction projects.

Trustees of National Park Community College last week postponed an April property tax election until its bond counsel can determine if the revenue can be used for capital improvements.

Roads and streets in every city and all 75 counties of Arkansas would be improved and upgraded with revenue from a proposed 0.5% increase in the state sales tax, highway director Scott Bennett told lawmakers last week.

DALLAS — The largest two-year state-supported technical college in Arkansas without local tax support will ask Pulaski County voters to create a taxing district.

The Board of Trustees of Arkansas State University last week approved a proposal for $28.5 million of revenue bonds for projects at the school’s main campus in Jonesboro.

DALLAS — Arkansas Gov. Mike Beebe sent lawmakers a $4.72 billion general fund spending plan for fiscal 2013 that increases expenditures by $163 million from fiscal 2012.

Arkansas tax collections totaled $481.3 million in December, the highest amount for any December and an increase of almost 10% from December 2010.

Voters in Little Rock will decide March 13 on a revenue bond issue for up to $32 million to expand the Central Arkansas Library System.

North Little Rock School District No. 1 of Pulaski County is asking for a little love from voters on Valentine's Day in the form of a property tax increase to support bonds for a $265.6 million facilities improvement program.

Pulaski Technical College officials decided last week to build a new bond-financed culinary school at an existing site rather than a location in downtown Little Rock, Ark., promoted by Mayor Mark Stodola and a coalition of 48 businesses and organizations.

The Arkansas Department of Highways and Transportation will focus initially on improving traffic flow along Interstate 30 if voters approve $1.3 billion of general obligation bonds for roadwork next year.

The Arkansas Teacher Retirement System is unlikely to eliminate its $4.4 billion of unfunded liabilities over the next 30 years at the current return from the system’s investments, according to actuaries

Trustees of Central Arkansas Water last week approved an $18.2 million revenue bond issue that is expected to go to market in early January.

Investments held by the Arkansas Local Police and Fire Retirement System currently are valued at $967 million after dropping to $919 million as of Sept. 30.