Texas

DALLAS — A new section of the 180-mile, $6 billion toll road that loops around the outer Houston metro area known as the Grand Parkway could break ground this fall after winning approval from the Texas Transportation Commission.

DALLAS — A wave of financial emergencies brought on by deep cuts in Texas education spending will bring additional credit scrutiny to school districts but not necessarily downgrades, Standard & Poor's analysts said Tuesday.

DALLAS — As Texas urban transit authorities continue to expand light-rail lines to ease congestion, they are also investing heavily in their workhorse buses, combining local and federal funds to develop cleaner, more efficient systems.

DALLAS — The North Texas Tollway Authority’s decision in 2007 to pay $3.2 billion for the right to build the Sam Rayburn Tollway was a mistake that has limited its ability to take on new projects, according to NTTA chairman Victor ­Vandergriff.

DALLAS — The Texas A&M University System will offer one of the largest Southwest deals Tuesday in a lean municipal market.

AUSTIN — Texas faces a severe budget shortfall of $15-$27 billion over the next two years, but a deeper threat to its AA-plus credit rating is a structural imbalance in how it finances schools, according to Standard & Poor’s analyst Horacio Aldrete-Sanchez.

DALLAS — Texas schools are waiting to see how deeply the Legislature cuts their funding before seeking more bond authority from taxpayers, finance experts say.

DALLAS — Analysts say that debt ratings for international toll bridges in Texas are bearing up under the stress of continuing drug violence in Mexico and recent traffic declines due to additional crossing points.

DALLAS — Houston is preparing to add a third professional stadium to the downtown area after the City Council approved plans Wednesday to build an $80 million home for the Dynamo professional soccer team.

DALLAS — If volume in January was any indication, it’s ­going to be a lean year for new issuance in the Southwest.

DALLAS — The Texas Senate’s proposed $158.7 billion spending plan for fiscal 2012 and 2013 is 15% lower than the current $187.5 billion budget but $2.3 billion more than the House’s two-year budget proposal.

DALLAS — For issuers who need it, bond insurance nowadays is very expensive, even if it is available. But local governments in Texas are still finding their way to market with state guarantees that offer low up-front costs and result in attractive long-term rates.

DALLAS — J. Kevin Ward, executive administrator of the Texas Water Development Board, is leaving the agency after 22 years to become general manager of the Trinity River Authority.

DALLAS — Dallas is facing a revenue gap in fiscal 2012 of at least $41 million, city manager Mary Suhm said Wednesday at the City Council’s first briefing on next year’s budget.

The first outline of a spending plan from the Texas Legislative Budget Board calls for deep cuts in public education, programs for the needy, and criminal justice, while preserving a $9.4 billion rainy-day fund.

DALLAS — Trustees of the Socorro Independent School District may ask voters in May to approve a $297 million general obligation bond program to build new facilities for the fast-growing system in El Paso County, Texas.

DALLAS — Dallas-Fort Worth International Airport will launch a seven-year project to remodel its four original ­terminals next month. But despite the $2.3 billion cost, officials do not expect 2011 to be a year of heavy bond issuance for new money.

DALLAS — Texas lawmakers will open their 2011 legislative session Tuesday with a projected budget gap of $27 billion under the revenue estimates from Comptroller Susan Combs.

DALLAS — The Austin Community College District will trim plans for its expansion into Hays County after losing a chance to issue Build America Bonds, officials said.

DALLAS — Travis County, Texas, commissioners said Tuesday they want to reduce a proposed road and parks bond package from $550 million to $200 million before asking voters to approve it.