Southwest

Seeking an end to the longest legislative session in Kansas history, Gov. Sam Brownback said he would sign legislation increasing sales and tobacco taxes to erase a $400 million budget deficit.

The Texas Transportation Commission will bring $800 million of refunding bonds to market in its first issue since the Legislature approved a record funding increase for highway projects.

Two weeks after El Paso Children’s Hospital filed for bankruptcy, the county hospital district that issued $120 million of bonds filed a voluntary disclosure of the filing on the Municipal Securities Rulemaking Board’s EMMA Web site.

In a continuing trend, Kansas revenues fell $5.8 million below projections in May, the penultimate month of the fiscal year.

A for-profit detention center in Willacy County that was evacuated after an inmate uprising is in default on its $78.5 million of bonds issued in 2011, according to trustee U.S. Bank National Association.

With the Kansas Legislature seeking agreement on proposed tax increases to cover a $400 million budget shortfall for the fiscal year beginning July 1, state budget director Shawn Sullivan said employee furloughs will begin June 7 if no agreement is reached.

The Texas Legislature’s 84th Session closed with a $209 billion biennial budget, $3 billion of bonds for university construction and a proposed $3 billion of additional funding for highways.

With federal funds in short supply, Texas' largest public housing authority is using tax credits and private activity bonds to give federal housing projects a new lease on life.

For the first time in eight months, Denver International Airport has a chief financial officer with the promotion of Gisela Shanahan from her previous post as senior manager of capital planning and budget.

The Arkansas legislature quickly approved bills to authorize GO bonds to help a Lockheed Martin factory project.