Southwest

With trading active on much of bankrupt American Airlines' $3.2 billion of special facilities revenue bonds, some market participants are sounding a cautionary tone in assessing their value, as bargain hunters eye the airline's discounted bonds secured by collateral.

Amid fears of rolling blackouts in Texas next summer, new municipal debt for electric power generation in the state has fallen sharply because of financing constraints and environmental litigation.

The Houston Metropolitan Transit Authority will receive $900 million in federal grants under agreements signed last week by Peter Rogoff, director of the Federal Transit Administration, and Houston Mayor Annise Parker.

The upward trend of Oklahoma’s economy should continue into the holiday season, Treasurer Ken Miller said last week at the release of the monthly tax receipts report.

Economist Arthur Laffer, famous for his Laffer Curve that promises economic growth from low tax rates, told a civic club summit last week that he supports proposals to eliminate Oklahoma’s personal income tax over 10 years.

The Topeka Metropolitan Transit Authority is lining up supporters in its quest for a $25 million federal grant to create a hub at Topeka’s airport that would include local and interstate bus operations, a shuttle, and rail service.

Investments held by the Arkansas Local Police and Fire Retirement System currently are valued at $967 million after dropping to $919 million as of Sept. 30.

The Central Arkansas Library System plans a March 2012 election to renew an existing bond program that will include a property tax decrease.

DALLAS — Arkansas tax collections are expected to be 3.5% higher in fiscal 2013 than in fiscal 2012, but Gov. Mike Beebe has told state agencies not to expect more money next year.

DALLAS — The Texas Supreme Court determined Monday that the state's main business tax does not violate the constitutional prohibition against enacting a personal income tax without voter consent.