Kansas

Moody's Investors Service downgraded the Unified Government of Kansas City and Wyandotte County, Kan., to A1 from Aa3 due to "narrow general fund reserves and liquidity compared to similarly rated credits."

The Kansas Department of Transportation will delay $300 million of highway maintenance under Gov. Sam Brownback's plan to reduce a state budget deficit.

Sticking to his plan to cut income taxes, Kansas Gov. Sam Brownback is proposing higher taxes on alcohol and tobacco to cover a shortfall of more than $700 million over the current and coming fiscal years.

Already struggling to erase a $715 million deficit over the current and coming fiscal years, Kansas lawmakers face a costly court ruling that could require them to add more than $500 million to school funding.

Topeka, Kan., will await a ruling from the Kansas Court of Appeals on a citizens petition before issuing $5 million of sales tax and revenue bonds to buy a financially trouble race track. The petition drive seeks a vote on whether to buy the track.

Kansas Gov. Sam Brownback will cut spending by 4% to offset a $279 million revenue shortfall in the current fiscal year. Brownback will also ask the Legislature to authorize internal fund transfers of more than $200 million.

Kansas revenues came in $3.1 million above expectations in November, but the state still faces projected shortfalls of $279 million for this fiscal year and $436 million in the following year.

Kansas Gov. Sam Brownback made up for lost ground, winning re-election after trailing in the polls for several weeks as state revenues trailed projections.

Wichita, Kan., officials were left empty-handed as voters rejected a one cent sales tax for transit, street and jobs projects over the coming five years.

In the last report before the Nov. 4 election, Kansas reported that revenues for October fell $23 million below expectations.

Topeka leaders went to court in hopes of circumventing a petition calling for an election on the proposed purchase of a distressed automotive racetrack.

A $250 million water supply and an $80 million job development program would be funded by a 1% sales tax that is up for approval in Wichita, Kan., Nov. 4.

Kansas revenues are running 1.7% below projections in the first three months of the fiscal year after falling 4% below budget in September, officials said.

Kansas' capital city is considering a $5 billion bond issue to buy a private race track that is generating insufficient sales tax revenue to service previously issued debt.

Kansas revenues were 1% or $4 million below projections in August, though higher than the same month last year, officials said.

The municipal market should benefit from the Securities and Exchange Commission's prosecution of Kansas for inadequate disclosure of faltering pension obligations, according to Moody's Investors Service.

The largest teachers' union in Kansas is seeking to overturn provisions in the state appropriations law that strips tenured teachers of their rights to appeal firings.

Texas emerged as the top state in bond volume in the first half of 2014 as issuance across the Southwest rose 1.9% compared to the same time last year, data from Thomson Reuters shows.

Standard & Poor's downgraded Kansas to AA from AA-plus and retained a negative outlook Wednesday, citing budget imbalances in the wake of controversial income tax cuts.

The largest city in Kansas will issue $73 million of general obligation bonds to finance road, bridge and highway improvement projects.