Southwest

Economic study says privately financed Texas bullet train could generate billions of tax dollars for state and local governments.

With its first $810 million bond issue for a new water development program known as SWIFT, the Texas Water Development Board expects to save local utilities more than $106 million in borrowing cost.

Texas Comptroller Glenn Hegar lowered estimates for the state’s revenue over the next two years by about 2.3%, citing a slowdown in the state’s oil and gas economy.

The success of a $4.6 million social impact bond in Utah shows that the relatively new form of financing solutions to social problems can work, according to Goldman Sachs and other stakeholders.

The first issue of bonds for Texas’ newly authorized water development projects were oversubscribed by more than two times as institutional and retail investors gulped down the top-rated credit.

Texas sales tax revenues in September rose 1.9% over the same month last year, but distributions to local governments fell, Comptroller Glenn Hegar reported.

Strong growth in traffic prompts a Moody’s Investors Service upgrade on Harris County Toll Road Authority’s senior revenue bonds.

Most Arkansas polled in a recent survey do not favor a gasoline tax increase to cover a road revenue shortfall.

Arkansas remained ahead of its revenue forecast three months into the fiscal year, with September income 3% above projections, according to John Shelnutt, head of economic analysis and tax research.

A Glendale, Ariz., trash recycling project has fallen to a D rating by Standard & Poor’s after missing its interest payments.