Southwest

DALLAS — Standard & Poor’s on Wednesday upgraded the New Mexico Finance Authority to AAA from AA-plus ahead of a $16 million issue of senior-lien tax-backed bonds.

DALLAS — The Texas Department of Transportation would get another $3 billion of bond authorization under a proposal from the chairman of the state Senate Transportation and Homeland Security Committee, but he said finding a long-term solution to the chronic problem of highway funding is not likely in the current session.

DALLAS — The Odessa Junior College District will exhaust the debt capacity approved by voters in November 2010 with Wednesday’s negotiated sale of $68.5 million of limited-tax bonds.

DALLAS — As its tax base shrinks amid the ongoing housing slump, Dallas County will seek savings on its long-term debt and finance improvements to its jail and court facilities with a package of bonds and notes worth a combined $76.5 million this week.

DALLAS — A Texas Senate subcommittee charged with finding billions of dollars in new, non-tax revenue has apparently located $5.5 billion that could be used to soften budget cuts that currently total $23 billion.

DALLAS — Construction is expected to begin in June on a $400 million Union Pacific rail hub in Santa Teresa, N.M., financed through a public-private partnership, after New Mexico Gov. Susana Martinez signed four bills related to the project.

DALLAS — Texas cannot resolve its $23 billion revenue shortfall without a revision to an underperforming business tax, Senate Finance Committee chairman Steve Ogden said Tuesday.

DALLAS — The Texas Senate’s chief budget writer said Monday there is little enthusiasm among his colleagues for the $164.5 billion, two-year budget the House passed late Sunday.

DALLAS — As part one of a two-part transaction, Denver Public Schools on Tuesday issued $400 million of certificates of participation designed to lower the cost of a controversial 2008 floating-rate deal that funded the teachers pension program.

DALLAS — Amid ambitious expansion plans, Denver International Airport will price up to $400 million of refunding revenue bonds on Thursday.