Southwest

The University of Texas System will seek authorization for $1.1 billion of state tuition bonds for 16 projects at 15 campuses from the Texas Legislature.

The Internal Revenue Service is auditing $228 million of tax-exempt LIBOR floating rate bonds issued by the Oklahoma Student Loan Authority in 2010 as part of an expanded audit the agency had initiated last fall.

The $3 billion of bonding authority of the Cancer Prevention and Research Institute of Texas would be stripped, except for refundings, by a measure proposed by state lawmaker.

With only one proposal for a $1 billion managed toll lanes development on Airport Freeway in the Dallas-Fort Worth area, the Texas Department of Transportation is enlarging the project and seeking more bidders.

Clear Creek Independent School District may ask voters in May to approve a $387 million general obligation bond package focused on renovating existing schools.

Construction costs are going up for projects financed by Sedgwick County Unified School District No. 259’s $370 million of general obligation bonds approved in 2008.

The $12.2 billion two-year state budget proposed last week by Gov. Sam Brownback should result a 7.5% ending balance each year or about $450 million, he said.

The Arkansas Supreme Court turned down a request from the state to reconsider its November ruling that lets school districts keep excess property-tax revenue from a statewide tax.

Little Rock will save $2 million a year in debt service with a refunding of $24.7 million of airport revenue bonds from 1999 that financed projects at Bill and Hillary Clinton National Airport.

Houston Independent School District will tap a record $1.89 billion bond authorization Wednesday with a $301 million issue expected to be followed in two weeks with another $150 million deal.