Texas

DALLAS — A nonprofit public charter school will sell revenue bonds in April for new facilities through a conduit issuer approved Wednesday by the Dallas City Council.

The North Texas Tollway Authority is seeking two financial advisors after opening up its bidding process under new board policies.

DALLAS — An Austin citizens bond development committee must cut by more than half a list of potential projects to be financed by a general obligation bond package going to voters in November.

The $5.25 billion expansion of the Panama Canal scheduled for completion in 2014 has sparked billions of dollars worth of highway, rail and port projects in Texas as the state races to complete construction in time for the expected surge in trade traffic.

The San Antonio City Council last week set May 12 as the election date for the city’s request for $596 million of general obligation bond authority for infrastructure improvements.

AUSTIN — Texas public school districts will face financial stresses in educating Texans to the level needed to sustain economic development, according to education officials and financial professionals at The Bond Buyer’s 16th annual Texas Public Finance Conference.

Texas has emerged from the recession with its credit intact, but the state faces major adjustments to environmental patterns and demographics that are likely to affect long-term investors, experts told the Texas Public Finance Conference here Monday.

Texas cities will share $471.1 million of the more than $2 billion of state sales tax revenue that was collected in January.

The Rockwall, Texas, City Council last week set an election for May 12 on a $59 million, four-part general obligation bond program that includes a $25.1 million athletic complex.

Trustees of the Tyler Independent School District in Texas adopted a long-range capital plan last week that would begin with proceeds from a bond election in November.

DALLAS — The two primary sources of revenue for Texas — property value and sales — both rebounded in 2011, according to state Comptroller Susan Combs.

DALLAS — The Dallas City Council on Wednesday postponed a decision on whether to create a conduit issuer that could issue tax-exempt revenue bonds to finance the expansion of a charter school chain.

With its major tenant, American Airlines, in bankruptcy, Dallas-Fort Worth International Airport is taking advantage of low interest rates and a favorable tax ruling in a $450 million refunding.

DALLAS — Alliance Texas, one of the most successful multi-modal inland ports in the nation, will suffer a blow to employment when bankrupt AMR Corp. closes its American Airlines maintenance base in Fort Worth.

DALLAS — A Texas teachers group is asking Gov. Rick Perry to call a special legislative session that would restore state aid to school districts by taking $2.5 billion from the state's rainy-day fund.

DALLAS — After gulping down the rival Bexar Metropolitan Water District, the San Antonio Water System is ready to take advantage of low interest rates with a $245.6 million refunding.

DALLAS — Dallas is looking at a fiscal 2013 budget gap between anticipated revenues and expected expenses of $49 million at best, but at worst it could grow to $87 million, city manager May Suhm told the City Council Wednesday.

DALLAS — Two years after sharply retrenching in a harsh economy, Dallas Area Rapid Transit is enjoying a lift in its credit score from Fitch Ratings along with rising sales tax revenue and lower construction costs.

Houston last week broke ground on a $1 billion bond-financed redevelopment of George Bush Intercontinental Airport.

Robert Shepard has resigned as the governor-appointed director of the North Texas Tollway Authority’s board. Shepard’s resignation comes as the board faces a probe into it past business practices by the Federal Bureau of Investigation, but his departure is said not to be related to that inquiry.