Southwest

Thursday's move marks another formal step back from a water supply crisis that has negatively impacted the city's bond ratings. 

The Texas city's property tax-backed debt offering will be sold competitively on Sept. 22, according to a draft preliminary official statement.

A proposed constitutional amendment allowing the legislature to determine how local revenue lost due to property tax exemptions is reimbursed was defeated.

Rating agencies say they don't expect federal plans for the drought-plagued river to spark near-term credit concerns, but they may develop over the longer term.

Statewide ballot measures, including one before voters in this week's primary, would decrease or even eliminate certain property tax revenue for public schools.

Financing for a nearly $500 million long-term investment plan would include as much as $250 million of revenue bonds that could be sold next year.

The Oklahoma audit uncovered "complex financial schemes" allegedly by a former Tulsa Public Schools administrator that involved $3.73 million in bond proceeds.

Budgets for Houston, Austin, Dallas, and Fort Worth come amid credit quality improvements and calls from Gov. Greg Abbott to rein in local government spending.

In a 5-6 vote, the city council rejected the mayor's proposal to place $489 million of revenue bonds for a professional basketball arena on the Nov. 3 ballot.