City of Houston, TX

Ahead of a 14-3 vote to pass the $7 billion spending plan, concerns were raised about new legislation affecting the city's public safety pension funds.

Controller Chris Hollins raised several concerns about the mayor's $7 billion budget for the fiscal year that begins July 1, including its use of reserves.

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.

The city, which faces a budget shortfall, would receive the lesser of 30% or $80 million of Harris County Toll Road Authority surplus toll revenue.

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

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.

Houston, Phoenix, and Dallas are taking action to address fiscal challenges brought on by litigation, state actions and a ballot measure.

The city council approved the private placement of up to $325 million of notes to commence funding for a $1 billion convention center expansion project.

Ordinances pending before the city council would authorize up to $325 million of interim financing that would be refunded with fixed-rate, 30-year bonds.

Texas, Oklahoma, and other Southwest states would jump on the bitcoin bandwagon amid a nationwide surge in bills to invest public money in cryptocurrencies.