Southwest

DALLAS — Texas is emerging from its worst recession in more than 30 years, earlier than other states, but lawmakers find themselves still struggling to recover from the effects as they seek to fill a budget hole that could grow to $15 billion.

Texas Sen. John Carona, R-Dallas, chairman of the Senate Committee on Transportation and Homeland Security, said last week that the state must find a way to finance highway projects, including an increase in the gasoline tax.

Build America Bonds arrived at a critical stage for the North Texas Tollway Authority as it was embarking on projects that would more than triple its debt load.

DALLAS — Faced with sharply falling revenue, Dallas Area Rapid Transit is considering delaying a key light-rail line to Dallas-Fort Worth International Airport, among other measures to reduce spending.

DALLAS — The North Texas ­Tollway Authority yesterday named its underwriting team for $900 million of bonds expected to be issued in the next 90 days, including a $500 million deal that will be the first of its kind in Texas.

CHICAGO — A Kansas City, Mo., task force picked Piper Jaffray & Co. over three other finalists to help develop a financing plan as the city weighs whether to pursue construction of a $300 million hotel to support its downtown convention center.

DALLAS — The Alamo Heights Independent School District in Texas is asking voters in the to approve a $44 million bond package on May 8.

DALLAS — In its second large deal of the month, the ­University of Texas Board of Regents plans to take advantage of its triple-A ratings with a $373 million refunding issue scheduled to price today.

DALLAS — Amid growing pains in an economic downturn, Austin is considering a second convention hotel while laying the groundwork for a $100 million transportation bond issue.

DALLAS — As a young agency with a senior debt rating at the lowest rung of investment grade, the Central Texas Regional Mobility Authority needed an innovative approach to finance its latest project known as the 183A Toll Road Extension.