Southwest

DALLAS — Texas lawmakers will be facing a revenue shortfall of at least $11 billion when they develop the next two-year budget in 2011.

DALLAS — Moody’s Investors Service has shifted its outlook on Dallas’ Aa1 rating to negative based on the city’s weakening economy and narrowing budget reserves, the agency said.

DALLAS — CPS Energy of San Antonio tomorrow will price up to $380 million of Build America Bonds for capital projects, including a new coal plant that is nearing completion.

DALLAS — With higher education at the center of Arizona’s debate over how to revive its struggling economy, two of its major state universities will issue $237 million of revenue bonds to upgrade their flagship campuses.

DALLAS — UBS Securities will repurchase up to $200 million of auction-rate securities from investors across the country not covered in investment bank’s initial agreement with state and federal regulators, according to the Texas State Securities Board.

DALLAS — Dallas will take as much as $330 million of general obligation debt to market next week after the City Council voted Wednesday to increase the refunding component to a maximum of $170 million.

DALLAS — The New Mexico Legislature has approved a $5.6 billion budget in a special session that balances spending with the largest tax increase in more than 20 years while cutting spending by $100 million.

DALLAS — Voters in the Tulsa County Independent School District No. 1 approved a $354 million general obligation bond package on Tuesday, the largest bond package ever sought by the district or any other school district in Oklahoma.

DALLAS — Anti-Washington fervor in Tuesday’s primary helped Texas Gov. Rick Perry win the GOP nomination to run for an unprecedented third term and set the stage for the once-powerful Republican Sen. Kay Bailey Hutchison to retire from politics.

DALLAS — Kansas Gov. Mark Parkinson said he may be forced to make additional cuts to the fiscal 2010 budget as revenue continues to fall faster than expected.