Southwest

Austin Mayor Lee Leffingwell said last week that voters will be asked in November 2012 to decide on a bond package that would fund an urban rail system, roads, bike paths, parks, and libraries.

Oklahoma’s highest income-tax rate will drop to 5.25% from 5.5% on Jan. 2, 2012, after the Board of Equalization determined last week that revenues will be 4.4% higher next year than in fiscal 2011.

DALLAS — A new section of the 180-mile, $6 billion toll road that loops around the outer Houston metro area known as the Grand Parkway could break ground this fall after winning approval from the Texas Transportation Commission.

Arkansas voters would be asked to decide on $2.8 billion of state bonds for highway projects under a proposal to be introduced next week by House Speaker Robert Moore Jr.

Standard & Poor's put Glendale, Ariz.'s certificates of participation on negative watch as the city prepares to issue $100 million of debt to help a private investor buy the Phoenix Coyotes National Hockey League team.

Oklahoma's cumulative $16.5 billion of unfunded pension liabilities is unsustainable and could damage the state's bond ratings, Treasurer Ken Miller said Tuesday.

DALLAS — A wave of financial emergencies brought on by deep cuts in Texas education spending will bring additional credit scrutiny to school districts but not necessarily downgrades, Standard & Poor's analysts said Tuesday.

DALLAS — As Texas urban transit authorities continue to expand light-rail lines to ease congestion, they are also investing heavily in their workhorse buses, combining local and federal funds to develop cleaner, more efficient systems.

DALLAS — The North Texas Tollway Authority’s decision in 2007 to pay $3.2 billion for the right to build the Sam Rayburn Tollway was a mistake that has limited its ability to take on new projects, according to NTTA chairman Victor ­Vandergriff.

The Internal Revenue Service is auditing $7 million of revenue bonds issued in 2007 by the Colorado Housing and Finance Authority for Confluence Energy LLC to finance the construction of a wood-pellet manufacturing plant in Kremmling, Colo.