Southwest

The Internal Revenue Service closed an audit of $61.3 million of revenue bonds issued in 2005 by the Coastal Bend Health Facilities Development Corp. of Corpus Christi, Tex., and has determined the debt can remain tax-exempt.

DALLAS — Boasting a top credit rating, Denver anticipates a strong response to next week’s $350 million deal that will include the city’s first Build America Bonds.

DALLAS — Oklahoma investment banking veteran Chris Cochran has been named senior vice president and managing director for public finance at BOSC Inc., the broker-dealer subsidiary of BOK Financial Corp.

DALLAS — Arkansas will refund three series of highway bonds with this week’s negotiated sale of $256.97 million of five-year general obligation bonds that will lower debt-service costs in fiscal 2011 by an anticipated $11 million.

DALLAS — The University of Colorado Hospital will use bond financing for a $400 million expansion at the new Anschutz Medical Campus at the site of the former Fitzsimons Army Hospital in Aurora, officials said yesterday.

DALLAS — The Internal Revenue Service is withholding up to $1.2 million of direct-payment subsidies for Build America Bonds issued by Austin last year, said Treasurer Art Alfaro.

DALLAS — Facing the same revenue squeeze choking every Arizona city, Tucson took a hit to its strong credit ratings as it prepares to market $100 million of certificate of participation next month.

DALLAS — Oklahoma Gov. Brad Henry and Republican leaders in the Legislature reached an agreement late last week on a proposed $6.7 billion general fund budget for fiscal 2011 that relies on more than $1 billion of one-time money to cover a revenue shortfall estimated at $1.2 billion.

DALLAS — Arizona will be spared nearly $1 billion in spending cuts after voters approved a three-year sales tax increase to bolster falling revenue.

DALLAS — The Texas Education Agency will distribute more than $1 billion of federally subsidized qualified school construction bonds to local districts under an allocation procedure issued Monday.