Texas

While Texas' economy continues to outperform the nation's its government has failed when it comes to fixing structural problems with the budget, according to a new report from Standard & Poor's.

With water supplies rapidly dwindling, Midland, Texas, is issuing $200 million of debt to build a 60-mile pipeline in less than 10 months.

San Antonio, plans to issue $1.1 billion of debt through 2016 to finance improvements and expansion of its water and sewer system as drought adds urgency to the city's conservation efforts.

The South Texas Higher Education Authority Inc. has proposed paying IRS $438,243 under the voluntary closing agreement program to settle tax law issues over $255.8 million of student loan bonds it issued in 2007.

Trustees of Tyler Independent School District last week declined to call a general obligation bond election for November after discussing a proposal for several weeks.

Texas will sell $155 million of general obligation bonds for water projects on Sept. 11 as the Internal Revenue Service conducts a routine audit of a 2002 deal.

An increase in Lubbock County's property tax rate will allow the West Texas county to cope with financial and political problems if President Obama is re-elected in November, Judge Tom Head said Wednesday.

While state debt per capita is lower in Texas than most, local government debt runs higher than that of other states by a large margin amid growing demand for infrastructure, state comptroller Susan Combs said.

Trustees of Midland Independent School District, Texas will consider a long-range plan to build three new high schools designed to accommodate 2,100 students each.

The El Paso City put on the November ballot a plan to issue $468 million of general obligation bonds and to increase the city’s hotel tax by 2% to finance a baseball stadium.

Texas cities, counties and schools are placing nearly $4 billion of bonds on the November ballot that will decide the presidential and statewide elections. Voters' moods are a concern.

Texas will issue $9.8 billion of tax and revenue anticipation notes to smooth cash flows for schools as the economy recovers. The note offering is 4.9% less than the prior year's, but still the state's second largest.

Rapid growth of wind farms in sparsely populated West Texas is a mixed blessing for school districts that have become "property wealthy" under the state's education funding formula, according to a report from Standard & Poor's.

Dallas Fort-Worth International Airport begins a series of refundings that is expected to total nearly $1 billion, following a successful new-money AMT deal.

Houston Community College System Trustees approved a $425 million bond referendum.

San Antonio police found no wrongdoing after investigating allegations against the firm that manages the bond program of Harlandale Independent School District.

The Austin City Council split 3 to 3 last week on whether to approve a general obligation bond referendum in November of $385 million or to ask for $400 million instead.

Tempe, Ariz., brought in $81.9 million from the local sales tax in fiscal 2012, the first time annual sales tax revenues topped $80 million since fiscal 2007.

Voters will consider the largest school bond issues in Texas history after the Houston Independent School District board of trustees agreed to place $1.9 billion on the November ballot.

The Ector County, Texas, Independent School District is preparing a $129.8 million bond referendum for November. The district, which serves the city of Odessa, is experiencing population growth from oil and gas activity in the energy-rich Permian Basin.