Southwest

Two years after Hurricane Ike devastated the tourism-oriented island of Galveston, the Texas city of the same name is making a steady comeback, despite the added burden of a deep recession. The city's improving fortunes are reflected in last week's Standard & Poor's upgrade to A with a positive outlook from BBB with a stable outlook on its general obligation debt.

Oklahoma tax revenue collections were up more than 9% in November over last year, Treasurer Scott Meacham said last week, as the state's economy continues to rebound from the deepest recession since World War II.

The Harris County Metropolitan Transit Authority last week reached a settlement with CAF USA Inc., over two disputed contracts for the construction of light-rail cars for its North and Southeast Corridor lines.

The State Board of Equalization last week certified a state general fund revenue estimate of $5.2 billion in fiscal 2012, which would give lawmakers $4.9 billion to appropriate next year.

The Kansas Board of Regents will seek a $50 million increase in state aid to higher education in fiscal 2012 to restore some of the money lost to budget cuts over the past two years.

Two churches in Mission have filed suit in Johnson County District Court in Olathe seeking to overturn Mission's new transportation utility fee.

Little Rock Wastewater will be insolvent by mid-2012 unless the Sanitary Sewer Commission raises rates or cuts spending, according to a new financial plan presented to the commission last week.

DALLAS — The Dallas suburb of ­Irving could issue up to $250 million of bonds for a new entertainment center within two months if a judge’s ruling stands, Mayor Herbert Gears said.

Colorado property values fell 5.3% in 2010 and are expected to fall another 6.9% in 2011, according to the December economic forecast from the nonpartisan Legislative Council.

With the year-end deadline approaching, Houston this week will refund $94 million of private-activity bonds for its airport system with variable-rate debt to gain exemption from federal alternative-minimum tax provisions.