Southwest

Arkansas Gov. Mike Beebe will call a statewide election on a proposal to renew the state's existing $575 million Garvee road bond program.

CHICAGO - Attorneys for state retirees in Colorado and Minnesota are weighing whether to appeal court decisions last week dismissing litigation that challenged legislative cuts to pension cost-of-living hikes but fear that such rulings will "embolden" other cash-strapped states eying ways to ease pension costs.

DALLAS — In a holiday-shortened week, Dallas plans to offer investors $236 million of highly rated water and sewer bonds as the city continues to reduce spending amid continuing economic weakness.

Provisions in SB 1, passed by the Texas Legislature in the final days of June’s special session, will require publication of more timely information on the state of the state’s finances.

The Federal Bureau of Investigation has entered the probe into questionable payments by Harris County to two brokers involved in county investment transactions.

The Oklahoma City suburb of Norman has created a rainy-day fund that sets a target of 4.5% of general fund expenditures.

State revenue totaled $5.54 billion in fiscal 2011, according to preliminary data from the Kansas Department of Revenue. The total is $685 million more than in fiscal 2010, and $88 million more than April’s official forecast.

Little Rock lawyer Sheffield Nelson has filed a revision with the secretary of state’s office to his proposal that would amend the Arkansas constitution and increase the state severance tax on natural gas to help fund maintenance of city, county and state roads.

Proponents of a plan to limit increases in Arizona state and local property tax levies have filed paperwork with the secretary of state’s office for a third try at a statewide vote. Similar initiative attempts failed in 2008 and 2010.

DALLAS - The Austin City Council has paved the way for promoters of a Formula One race to receive $25 million per year from the Texas comptroller's office over the next decade, but a lawsuit challenging the legality of the state subsidy still stands in the way.