Southwest

DALLAS — In what will likely be the largest deal in Texas so far this year, the North Texas Tollway Authority is preparing to issue $1.3 billion for the western extension of its President George Bush Turnpike.

DALLAS — Members of a new Texas Senate special subcommittee were tasked Monday with finding $5 billion of savings and non-tax revenues over the next two weeks.

DALLAS — More than three years after voters approved a bitterly contested split from Utah’s largest school district, the Canyons School District is preparing to issue its first bonds under its new name.

Texas Lieut. Gov. David Dewhurst wants state senators to look everywhere, even under rocks, to find $5 billion in savings and non-tax revenue to help cover a revenue gap of between $15 billion and $23 billion over the next two-year budget cycle.

The Arkanas Senate Committee on State Agencies and Governmental Affairs last week endorsed a bill that would allow cities and counties to issue bonds for development districts, with the debt supported by state sales tax revenue generated within the districts.

The Arkansas Senate last week approved a measure that would give the governor the authority to call a statewide election on up to $500 million of revenue bonds to repay federal loans for unemployment benefits.

DALLAS — The Arizona budget bill passed by the Senate on Wednesday calls for $1.3 billion in cuts to avoid borrowing and sharply reduces funding for education.

DALLAS — Glendale, Ariz.’s plan to sell $100 million of revenue bonds to finance the sale of the Phoenix Coyotes hockey team to Chicago investor Matthew Hulsizer appeared to be on hold after the Goldwater Institute confirmed plans to challenge the deal in court.

DALLAS — Texas will draw up to $3.2 billion from its rainy-day fund to close a revenue shortfall in fiscal 2011 under an accord approved Tuesday by Gov. Rick Perry.

DALLAS — The Arkansas House on Friday passed a bill calling for a statewide vote on a diesel-fuel tax hike to fund $1.1 billion of bonds for highway efforts.