Southwest

Kansas Gov. Sam Brownback last week endorsed legislation that would require local governments to lower their property tax rates automatically when assessed valuations increase.

More than half of those polled by the University of Arkansas in a recent telephone survey favor a proposed sales tax increase to support $1.3 billion of state highway revenue bonds.

The Arkansas Higher Education Coordinating Board approved $22.3 million of revenue bonds for projects at three colleges.

Proponents of an elevated hiking trail in Scottsdale, Ariz. said they would seek $25 million for the first phase of the project in a proposed $250 million bond referendum in November 2013.

With $21 million of bond issues planned over the next two years, Artesia, N.M., is considering its options for taking that debt to market after Standard & Poor’s withdrew its ratings following a failed audit.

Catholic Health Initiatives of Colorado will carry $6 billion of debt after this week's issue of $1.5 billion of taxable bonds to expand its network, a fact that cost the health-care giant a downgrade from three ratings agencies.

The Internal Revenue Service is examining almost $40.63 million of variable rate student loan bonds and notes issued by the Oklahoma Student Loan Authority in 2002.

Opponents seeking to overturn the way Texas finances its public schools said Monday the current funding mechanism is inequitable and inadequate.

The Utah Transit Authority will complete financing for its 2015 rail projects and convert about half of its variable-rate bonds to fixed-rate in a $296.8 million deal next week.

An Oklahoma state audit of the half-completed American Indian Cultural Center and Museum in Oklahoma City criticized the facility’s spending but found no financial wrongdoing.