Southwest

WASHINGTON — The Internal Revenue Service has closed its audit of $308 million of variable-rate bonds issued by Murray City, Utah, in a 2003 conduit health care transaction without any change to the bonds’ tax-exempt status.

DALLAS — The chairman of the Texas Senate Finance Committee on Tuesday proposed a constitutional amendment to take $2 billion from the $25 billion Permanent School Fund to help soften proposed reductions to state aid for public education.

DALLAS — San Antonio’s CPS Energy will remain a formal partner in expansion plans for the South Texas Project nuclear plant, even though major investor NRG Energy has backed out and the project is at a standstill.

DALLAS — Isolux Corsan Group, a private Spanish developer, could finance and build the next major link in a beltway around the Denver metro area if it reaches agreement with the Jefferson Parkway Public Highway Authority.

The Texas State University System next week plans to issue $114.5 million of revenue financing system bonds as Texas legislators consider another $320 million for the nine-campus system in its centennial year.

Alpine School District officials expect to ask voters to authorize $210 million of bonds to rebuild 12 schools and improve earthquake safety at 14 others.

The official estimate of Kansas revenues fell last week, as the state's Consensus Estimating Group lowered its outlook for fiscal 2012 by $21.5 million. The revenue estimate in the remainder of fiscal 2011 was also lowered by $10.2 million.

Fitch Ratings has affirmed its AAA on the Southern Ute Indian Tribe's $305 million of adjustable-rate bonds and maintained the notes rating at the top F1-plus with a stable outlook. The ratings were affirmed as part of the agency's routine surveillance.

Pulaski County Special School District trustees voted unanimously last week to seek approval from the Arkansas Board of Education for $104 million of general obligation bonds.

Fitch Ratings downgraded the Maricopa County Stadium District two notches to BBB-minus from BBB-plus due to falling revenues pledged for outstanding bonds, analysts said last week. The outlook is negative.