Southwest

The Board of Trustees of Arkansas State University last week approved a proposal for $28.5 million of revenue bonds for projects at the school’s main campus in Jonesboro.

Facing a federal investigation of past practices, the North Texas Tollway Authority has adopted a new ethics policy that requires extensive disclosure and tighter strictures on conflicts of interest.

DALLAS — Arkansas Gov. Mike Beebe sent lawmakers a $4.72 billion general fund spending plan for fiscal 2013 that increases expenditures by $163 million from fiscal 2012.

DALLAS — Buying back Arizona's capitol complex on the state's 100th anniversary will cost $106 million but will save $47.5 million in finance costs, according to estimates in Gov. Jan Brewer's proposed $8.96 billion budget.

DALLAS — In an unusual combination of financings, the Tarrant Regional Water District in Fort Worth will issue $295 million of bonds in two deals for a $2.3 billion water pipeline from East Texas.

A bond committee has asked the trustees of the Tatum Independent School District to set a May election on a $29.9 million general obligation bond program.

Legalizing the estimated 132,000 illegal immigrants working in the Houston area would result in an additional $1.4 billion in federal, state and local tax revenues, a Houston business advocacy group said last week at an immigration seminar at Rice University.

Valero Energy Corp. said last week it would not appeal Texas’ rejection of its request for a property-tax exemption on refinery equipment.

Texas sales tax revenues totaled $1.98 billion in December, an increase of 9.5% from December 2010 and the 21st consecutive month of collection increases.

Kansas is one of only three states without an emergency reserve fund, but voters might be asked to change that as early as November.