Texas

The Corpus Christi, Texas, City Council will decide Tuesday on a proposal for a $170 million utility revenue bond issue expected to provide $60 million of new money and to refund $110 million of outstanding junior lien debt.

Up to $140 million of transportation projects may be part of Austin's general obligation bond referendum in November, along with an expected $250 million of capital improvement projects.

Texas Gov. Rick Perry on Monday said he would reject an estimated $62 billion in federal funding to expand Medicaid in the state, citing states' rights.

In a state where drought has threatened to slow growth, Texas Land Commissioner Jerry Patterson is proposing a desalination project to supply water for development on state-owned land while raising revenue for the state Permanent School Fund.

Congress' $101.3 billion highway bill will advance the development of Interstate 69 between the border with Mexico and Texas seaports, state officials said.

The El Paso, Texas City Council amended its debt-management policy, eliminating the $100 million limit on certificates of obligation to allow the city to issue any amount of debt.

Standard & Poor's downgraded the Dallas Center for the Performing Arts Foundation one notch to the lowest investment-grade rating of BBB-minus, citing ongoing budget shortfalls and management problems.

The Texas Charter School Association filed a lawsuit June 26 contending that the state formula for funding public education violates the Texas Constitution.

The IRS has preliminarily determined that $147.18 million of revenue refunding bonds issued by the City of Houston Higher Education Finance Corporation in 2006 are not tax-exempt.

El Paso City Council voted Tuesday to raze City Hall and build a 9,000-seat minor league ballpark on the downtown site.

Texas A&M University System Board of Regents will complete a $196 million issue of Permanent University Fund bonds Tuesday with a $71 million refunding expected to provide net present value savings of 13.4%, or $10.7 million.

Texas State Rep. John Smithee, R-Amarillo, said last week he is concerned the quasi-governmental Texas Windstorm Insurance Association might not have the money needed to pay damages if a large hurricane hits the Gulf of Mexico coast this year.

El Paso, Texas is considering a plan to build a $50 million minor league baseball stadium where City Hall now sits.

Houston ISD Superintendent Terry Grier said Thursday that the 42 schools to be replaced or renovated in the $1.89 billion GO bond referendum will "change an entire city." Trustees must vote by early August to put the bond proposal on the Nov. 6 ballot.

The "hurry-up offense" appears to be working for the Harris County Houston Sports Authority, as Standard & Poor's has improved the outlook on the stadium builder's junk-rated junior-lien debt. The outlook on the B-rated bonds went to stable from negative in S&P's recent report.

Houston ISD would focus most of the proceeds from a proposed $1.8 billion general obligation bond package on replacements and upgrades to high school campuses. District is wrapping up an $805 million bond program authorized by voters in 2007.

Baird, an employee-owned capital markets firm based in Milwaukee, has added five bankers to its public finance team and opened three new offices in Texas.

DALLAS — Moody’s Investors Service will keep the Aaa rating of Texas’ Alamo Community College District on negative outlook because of its exposure to a weakened U.S. credit profile, the agency said.

The USS Texas is slowly sinking at its berth near Houston, and $25 million of debt approved by voters in 2008 won’t make any difference.

The Texas Facilities Commission is considering five valid unsolicited proposals for a potential $500 million public-private partnership for projects at the capitol complex in Austin.