Southwest

Arkansas revives road projects stalled over federal funding concerns, but officials say long-term HTF solution is essential.

With upgrades from two rating agencies, the North Texas Tollway Authority expects another reduction in its debt service costs with $744 million of refunding bonds, according to chief financial officer Horatio Porter.

One of the newest entrants in the Texas charter school movement did not wait to qualify for the state's triple-A PSF guarantee, selling $111 million of unrated bonds to buy six campuses.

Revenue bonds issued by Arlington, Texas, to help finance a $1.3 billion stadium for the Dallas Cowboys earned a Standard & Poor's upgrade to A-plus due to improved debt-service coverage.

A new limit on capital appreciation bonds in Texas is a positive credit factor for local governments, particularly school districts, according to Moody's Investors Service.

A consultant's report shows that earnings for Oklahoma's seven public pension funds fell steeply from the previous year. State Treasurer Ken Miller said the drop was not unexpected but should guide policies in the future.

Arkansas reported August revenues of $421.4 million, a figure that exceeds collections the same month last year by 5.5% and outpaces projections by 6.7%, according to the state Department of Finance and Administration.

Kansas revenues ran about $30 million or 6.8% below projections for August, according to state budget director Shawn Sullivan.

A water supply district created to serve the parched oil hub of Midland, Texas, has taken a two-notch downgrade from Standard & Poor's to AA-minus due to weaker financial performance, according to analyst James Breeding.

Surplus toll road revenues will fund preliminary engineering studies on a potential rapid rail segment in north central Texas.