Colorado

DALLAS — Colorado’s Taxpayer Bill of Rights, which limits the ability of state and local government to raise taxes and issue debt, violates the U.S. Constitution, according to a lawsuit seeking to overturn the voter-approved law.

DALLAS — The University of Colorado Hospital Authority plans to issue $200.8 million of variable-rate revenue bonds this week for a new medical tower on its rapidly expanding Anschutz Campus in Aurora.

DALLAS — With newly installed Gov. John Hickenlooper’s signature already affixed to his first budget bill, Colorado’s evenly divided General Assembly adjourned this week, though it left some business unresolved.

DALLAS — Chris Romer, a former investment banker, state senator and son of former Colorado Gov. Roy Romer, will face City Council member Michael Hancock in a June 7 runoff for mayor of Denver, according to unofficial results from Tuesday’s election.

DALLAS — Fitch Ratings has lowered the outlook on Colorado Springs Airport debt from stable to negative while affirming its A-minus rating.

DALLAS — Denver continues to cut costs associated with its $500 million South Terminal airport redevelopment project that will be financed with bonds.

DALLAS — Isolux Corsan Group, a private Spanish developer, could finance and build the next major link in a beltway around the Denver metro area if it reaches agreement with the Jefferson Parkway Public Highway Authority.

Fitch Ratings has affirmed its AAA on the Southern Ute Indian Tribe's $305 million of adjustable-rate bonds and maintained the notes rating at the top F1-plus with a stable outlook. The ratings were affirmed as part of the agency's routine surveillance.

DALLAS — As part one of a two-part transaction, Denver Public Schools on Tuesday issued $400 million of certificates of participation designed to lower the cost of a controversial 2008 floating-rate deal that funded the teachers pension program.

DALLAS — Amid ambitious expansion plans, Denver International Airport will price up to $400 million of refunding revenue bonds on Thursday.

DALLAS — Colorado’s Regional Transportation District is putting off a decision on whether to ask voters for a sales tax increase to complete the $6.7 billion FasTracks rail plan by 2017.

DALLAS — Colorado’s Regional Transportation District should shelve plans to for a tax-hike referendum this year or risk rejection of additional funds to complete the FasTracks rail projects by 2017, according to an advisory group.

The Internal Revenue Service is auditing $7 million of revenue bonds issued in 2007 by the Colorado Housing and Finance Authority for Confluence Energy LLC to finance the construction of a wood-pellet manufacturing plant in Kremmling, Colo.

DALLAS — As Denver International Airport embarks on the largest expansion project in its 16-year history, it’s benefitting from surging passenger levels and an improving economy that yielded a new traffic record in 2010.

DALLAS — Denver’s Regional Transportation District is considering asking voters for a 0.4% sales tax increase this year or next to complete the $6.7 billion FasTracks project currently under construction.

DALLAS — Newly inaugurated ­Colorado Gov. John Hickenlooper issued three executive orders designed to ­improve the economy Tuesday as the evenly ­divided General Assembly prepared to open its 2011 legislative session.

The Internal Revenue Service is auditing $250 million of Build America Bonds issued by Denver School District No. 1 in December 2009 to finance construction, renovation, and repair of school ­facilities.

Colorado property values fell 5.3% in 2010 and are expected to fall another 6.9% in 2011, according to the December economic forecast from the nonpartisan Legislative Council.

The Internal Revenue Service is auditing $117.45 million of variable-rate demand utilities system subordinate-lien refunding revenue bonds that were issued in 2004 by Colorado Springs, Colo., for Colorado Springs Utilities to refund some 1994 bonds.

Facing more budget-balancing challenges in 2011, Colorado will issue $500 million of tax revenue anticipation notes Thursday to smooth cash flows in the coming year.