Southwest

DALLAS — Austin taxpayers would be asked to back $275 million of general obligation bonds to get an urban rail system started under a proposal before the City Council.

DALLAS — Oklahoma Gov. Mary Fallin and Republican legislative leaders reached agreement Monday on a $6.8 billion budget for fiscal 2013.

Tulsa, Okla., Mayor Dewey Bartlett said last week the city would provide $3 million of bond proceeds to build a downtown parking garage if the Legislature will approve a $42.5 million issue for a proposed cultural museum in the city.

New Mexico Finance Secretary Tom Clifford last week suspended two Sunland Park officials and took over their duties after a special state audit found widespread municipal fraud and the misuse of city funds.

North Little Rock, Ark., City Council last week approved a $60 million negotiated restructuring of the city’s electric system revenue bonds to avoid a large payment due in fiscal 2014.

The Glendale, Ariz., City Council will consider a preliminary fiscal 2013 budget today that includes a $17 million payment for operations of the city-owned Jobing.com Arena.

A $1 billion budget for fiscal 2013 proposed by Phoenix City Manager David Cavazos received preliminary approval last week from the City Council.

San Antonio aims to get a jump on a busy week in the municipal bond market with a $650 million refunding for the city's CPS Energy Utility.

DALLAS — After going overtime, Kansas lawmakers wrapped up their work Sunday with approval of a $14.3 billion budget for fiscal 2013 that cuts general fund spending by 3% from fiscal 2012.

DALLAS — Austin risks a downgrade on its electric utility bonds if it fails to raise rates high enough, its financial advisor told the City Council last week.