Texas

DALLAS - The Texas Water Development Board could have up to $6 billion of outstanding bonds that finance projects across the state if voters approve a proposed constitutional amendment on Nov. 18.

DALLAS - As Texas and other states seek to lower prison expenses, local governments that invested in private lockups are bearing the costs of lower incarceration rates.

DALLAS - After pricing $347 million of general obligation bonds for expansion of state facilities Monday, Texas is preparing another $300 million of taxable debt for its Cancer Prevention Research Institute next week.

WASHINGTON - First Southwest Co., as bidding agent for a repurchase agreement related to a $233 million bond deal in Texas for which it was financial adviser, improperly allowed JPMorgan Securities to lower its bid for the repo, reducing the issuer's investment rate, according to documents and transaction participants.

DALLAS - Amid major expansions, Texas' top two toll road authorities are preparing variable-rate refundings expected to total about $200 million.

DALLAS - Investors who like San Antonio's top-rated credit can choose bonds, notes or certificates of obligation when the city goes to market with $192 million of debt Tuesday.

Members of a committee evaluating Travis County's proposed $638 million wish-list of bond projects have reduced the cost to $200 million as they work their way to the target of $150 million set by county finance officials.

Amid slowing growth, the north Dallas suburb of Frisco is preparing to issue nearly $123 million of general obligation refunding bonds to achieve net present-value interest cost savings of about 5%.

DALLAS — In a holiday-shortened week, Dallas plans to offer investors $236 million of highly rated water and sewer bonds as the city continues to reduce spending amid continuing economic weakness.

Provisions in SB 1, passed by the Texas Legislature in the final days of June’s special session, will require publication of more timely information on the state of the state’s finances.

The Federal Bureau of Investigation has entered the probe into questionable payments by Harris County to two brokers involved in county investment transactions.

DALLAS - The Austin City Council has paved the way for promoters of a Formula One race to receive $25 million per year from the Texas comptroller's office over the next decade, but a lawsuit challenging the legality of the state subsidy still stands in the way.

DALLAS - Texas lawmakers on Tuesday approved the financial bill necessary to balance the state's two-year, $172.3 billion budget, but not before almost forcing a second special session.

The Crystal City, Tex., Public Facilities Corp. has received an adverse tax determination notice from the Internal Revenue Service for $14 million of bonds issued in 2003 for a prison.

DALLAS — With a $1 billion renovation of George Bush Intercontinental Airport in the works, the Houston Airport System will seek interest-rate savings in a $424 million refunding deal expected to price in mid-July.

A lawsuit filed Wednesday in Austin claims that Texas Comptroller Susan Combs illegally promised a $25 million state subsidy for a Formula One race event next year.

DALLAS - Texas Gov. Rick Perry has signed legislation designed to help commuter rail districts raise money across jurisdictional lines for bond-funded projects.

DALLAS - Texas Gov. Rick Perry signed a two-year, $172.3 billion state budget Friday, but lawmakers continue work on two bills to finance the spending plan.

Port of Houston Authority officials said last week construction of a cruise ship terminal in Pasadena cost $108.4 million rather than the previously announced $71 million.

A $596 million general obligation bond issue outlined to the San Antonio City Council last week would fund infrastructure projects across the city as well as large, high-impact civic efforts.