Southwest

After two years of growth accelerated by $100-per-barrel oil, Texas will get a chance to show its underlying economic strength as energy prices weaken, state leaders and bond industry executives plan to tell The Bond Buyer's Texas Public Finance Conference.

Kansas Gov. Sam Brownback cut $44.5 million for K-12 public schools and higher education as the state Legislature approved cash transfers to close a $344 million budget deficit.

After record savings on a $1.68 billion refunding deal, the Central Texas Turnpike System has earned a one-notch upgrade to A-minus, Fitch Ratings analyst Casey Cathcart said.

Two leaders of the Texas Senate support a bill that would finance transportation construction with a portion of the tax on automotive sales.

Arkansas started 2015 with a 7.8% year-over-year increase in January net revenues, keeping growth for the current fiscal year 2.2% ahead of schedule, according to John Shelnutt, head of economic analysis and tax research for the state.

Kansas revenue officials said that greater-than-expected income tax refunds contributed to lower-than-expected revenues in January, extending the $279 million shortfall for the current fiscal year.

Dennis Hunt will head the public finance team at Stephens Inc. upon the retirement of Mark McBryde after 40 years at the firm.

Conduit bond issuers for two Texas counties failed to make full debt payments on private detention facilities that they were forced to take over, according to recent disclosures.

Delivering her budget and state-of-the-state address on the same day, Oklahoma Gov. Mary Fallin urged the opening session of the state Legislature to find a longterm solution to this year’s $300 million shortfall.

Austin's airport hotel is seeking new terms from creditors on $40 million of bonds that were restructured a decade ago. The bonds are again in default after revenues fell short of debt service requirements.