Southwest

DALLAS — A team of developers will receive the proceeds of $400 million of private-activity bonds this month to finance one of the most ambitious public-private toll operations in Texas: a $2 billion project known as the North Tarrant Express.

DALLAS — Faced with an unprecedented decline in tax revenue, Kansas Gov. Mark Parkinson on Monday slashed almost $260 million from the state’s fiscal 2010 budget.

DALLAS — School districts in Texas are seeing some green shoots after weathering nearly an entire year without the state’s Permanent School Fund backing for their bonds.

DALLAS — For the first time in its history, Arizona is turning to outside lenders for up to $700 million to cover operating costs, Treasurer Dean Martin said yesterday.

DALLAS — For the fourth time this year, Arizona Gov. Jan Brewer is calling the Legislature back into special session to reduce the nearly $2 billion budget deficit.

The State Board of Education said last week that additional cuts in state aid to 293 public school districts due to declining state revenues would harm the quality of education in Kansas.

The Arkansas Teacher Retirement System reported an 11.3% increase in its investments in the third quarter of 2009, as investments rose $856 million during the period to $9.66 billion.

Voters in Benton last week rejected a 0.5% increase in the city sales tax for public safety efforts by a vote of 1,815 to 1,095.

DALLAS — Harris County, Tex., today will issue the first of three bond deals worth a combined $550 million.

WASHINGTON — Brazos Student Finance Corp. wants to be the first student loan lender to ask institutional investors to voluntarily tender, at a discount, illiquid auction-rate securities in exchange for new floating-rate notes, about a year after a much larger and more complex offer failed.