Southwest

The Oklahoma Senate adopted a proposed constitutional amendment that would cap how much debt service could be paid each year on bonds supported from state taxes.

The State Board of Finance approved a winning bid from Williams Blair & Co. LLC of 1.775% for $137.2 million of state general obligation bonds.

Gov. Susana Martinez said she would sign the budget for fiscal 2014 after threatening to veto the spending measure over the failure of lawmakers to lower business taxes.

Two studies authorized by Legislature cast doubts on benefits from $125 million of state GO bonds for a proposed steel mill near Osceola.

Phoenix would face a $55 million revenue gap in fiscal 2014 if an emergency 2% sales tax is repealed two years before its sunset date.

Moody's Investors Service downgraded Dallas-Fort Worth International Airport's revenue bonds to A2 from A1 ahead of nearly $800 million of bonds expected to be issued in April.

Kansas lawmakers will consider a bill for $1.5 billion of state pension bonds to bolster the sagging finances of the state employee pension plan.

Texas lawmakers are considering two bills that would ban capital appreciation bonds with the aim of reducing the risk of deferred interest costs for local governments, particularly school districts in fast-growing areas of the state.

A newly created board would consider whether to move the Utah State Prison from Draper at a potential cost of $600 million under a bill awaiting Gov. Gary Herbert's signature.

Kansas's 10-year, bond-financed highway program will slow to a crawl if lawmakers allow a sales tax to expire and divert transportation funds to other purposes, said Transportation Secretary Mike King.