Texas

Dallas Area Rapid Transit has awarded a design-build contract for the final segment in its $1.5 billion Orange Line project that will connect Dallas-Fort Worth International Airport to the DART light-rail network, officials said.

A third lawsuit seeking to overturn Texas' system for financing public education was filed Tuesday in a Travis County state district court in Austin.

Texas state sales tax collections in November totaled $2.07 billion, up 12.2% from November 2010, and the 20th consecutive month of increased revenues.

Irving will make an unofficial commitment this week of $170 million of revenue bonds to help pay for a proposed entertainment complex despite warnings that the new debt could affect the Dallas suburb’s bond rating.

With trading active on much of bankrupt American Airlines' $3.2 billion of special facilities revenue bonds, some market participants are sounding a cautionary tone in assessing their value, as bargain hunters eye the airline's discounted bonds secured by collateral.

Amid fears of rolling blackouts in Texas next summer, new municipal debt for electric power generation in the state has fallen sharply because of financing constraints and environmental litigation.

The Houston Metropolitan Transit Authority will receive $900 million in federal grants under agreements signed last week by Peter Rogoff, director of the Federal Transit Administration, and Houston Mayor Annise Parker.

DALLAS — The Texas Supreme Court determined Monday that the state's main business tax does not violate the constitutional prohibition against enacting a personal income tax without voter consent.

Amid major redevelopment projects at large airports in Texas, aviation bond issuance there is running at the highest level since 2003, according to data from Thomson Reuters.

The Georgetown, Texas, City Council last week turned down a proposal to reduce the size of a planned public safety facility that will be financed with $29.5 million of bonds approved by voters in May.

DALLAS - Two Texas universities, one public and one private, are preparing $420 million of bonds for expansion projects amid signs of a steadily improving economy.

DALLAS - Plans to hold a Formula 1 race near Austin are in doubt after Texas Comptroller Susan Combs announced plans to withhold $25 million in taxpayer subsidies for construction of the track.

DALLAS - The North Texas Tollway Authority achieved total savings of $10.1 million in a $268.6 million refunding deal that sold out in less than three hours, officials said.

DALLAS - The decision of San Antonio-area voters to dissolve the 66-year-old Bexar Metropolitan Water District is not expected to lower ratings of the utility's $216 million of outstanding revenue bonds, according to Standard & Poor's.

DALLAS - The Spring Branch Independent School District in Texas will continue its 10-year capital improvement program with proceeds from Tuesday's competitive sale of $75 million of general obligation bonds.

DALLAS - With high ratings and low water supplies, drought-stricken Austin expects a strong response from the muni market Tuesday when it prices $235.4 million of bonds to finance a new water treatment plant.

Texas Sen. Kirk Watson, D-Austin, told a 10-member committee established to lay the groundwork for building a medical school in Austin that it is too early to know how much the proposal will cost.

Texas sales tax revenues of $1.87 billion in October were up almost 16% from October 2010 collections, Comptroller Susan Combs said last week.

Texas voters approved nearly $1.5 billion, or 83%, of the $1.8 billion in local school bond authorization requested Tuesday, but barely half of the 29 local districts were successful, according to updated results.

DALLAS - After issuing $1.3 billion of revenue bonds under its new special projects lien, the North Texas Tollway Authority has maintained its critical A-level ratings on its first-tier main system revenue bonds.