Texas

Some bills seeking to restrain local government debt issuance are still alive as the Texas Legislature's 2025 session heads towards its home stretch.

The $839.5 million Harris County Hospital District bond sale will tap $2.5 billion of voter-approved debt authorization for a $3.2 billion expansion project.

The spending plan for the fiscal year that begins July 1 was balanced through an ongoing reorganization of city government, according to Mayor John Whitmire.

Legislation would overhaul Dallas Area Rapid Transit's financial structure in a way that could impact outstanding debt and derail bonds for Austin light rail.

Bills have been introduced to eliminate the May election option for local bond and tax propositions, forcing them onto the November general election ballot.

Texas investor John Kleinheinz now controls Texas Central, which has spent more than a decade trying to build the Dallas-to-Houston high speed train.

Photos from The Bond Buyer's Texas Public Finance conference.

Mayor John Whitmire said phased-in funding under an agreement with plaintiffs who successfully sued the city will help address a budget shortfall.

Issuers in Texas are wary of potential changes at the federal and state level that could impact their finances and ability to sell debt.

Chris Hollins, the city's chief financial officer, said Texas anti-ESG laws are raising costs at the same time the city faces a structural budget deficit.