Southwest

DALLAS — An environmental lawsuit by the Sierra Club could impede bond issuance for one section of a 170-mile toll loop around the Houston area known as the Grand Parkway.

DALLAS — Despite Texas Gov. Rick Perry's claim that "government doesn't create jobs," the state capital owes its top debt rating and stable outlook in large measure to government employment, analysts said.

The Bond Oversight Commission will hear a request Thursday from the Oklahoma Turnpike Authority for $178 million of 20-year revenue bonds. The authority will use the proceeds to add lanes to road sections in Tulsa and Oklahoma City.

A 2011 bill transferring $101.7 million from a highway transportation revolving fund into the general fund was constitutional, Oklahoma solicitor general Patrick Wyrick contended last week in a hearing before a state Supreme Court referee.

New Mexico Gov. Susana Martinez last week called the Legislature to a special session beginning Sept. 6 to resolve a capital improvement effort that stalled in this year's regular session, and deal with redistricting and other issues.

The $3.1 billion of federal stimulus funds awarded to Arkansas created a total of 4,230 full-time jobs through June 30, according to a status report last week to a legislative joint committee that oversees the state's federal stimulus spending.

Maricopa County supervisors last week raised the property tax rate for fiscal 2012, but officials said a drop in property values should keep most residential tax bills at or near current levels.

DALLAS - Travis County, Texas, commissioners Tuesday set a Nov. 8 election for a two-part request for $214.9 million of general obligation bonds.

DALLAS - Amid rising sales tax revenue and an improving economy, Phoenix is considering a bond issue to revive plans for a $288 million extension of the metro area's new light-rail system.

DALLAS - Standard & Poor's on Tuesday downgraded $7.9 million of revenue bonds for a speculative West Texas jail to CC from A-minus after Jones County officials indicated plans to default on the debt if they cannot find a tenant for the facility.