Southwest

Local school districts are expected to take advantage of a new Arizona law signed by Gov. Jan Brewer in September that will allow districts to ask voters for a 15% property tax override, for up to seven years, on March 9.

WASHINGTON — The Securities and Exchange Commission has barred ex-Wachovia Securities LLC broker Guy P. Riordan from associating with any broker or dealer, and ordered him to pay a $500,000 penalty and to disgorge almost $938,354 in ill-gotten gains and interest for securities fraud violations stemming from a pay-to-play scheme involving the former treasurer of New Mexico.

DALLAS — On the verge of its fifth special legislative session of the year to reduce an ongoing budget deficit, Arizona plans to issue lease-purchase bonds to buy state buildings next month to avoid issuing IOUs to state employees in February.

DALLAS — The Texas A&M University System has called off a plan to issue $106.7 million of revenue financing system refunding bonds, citing market conditions that precluded sufficient savings.

DALLAS — The North Tarrant Express, a $2 billion toll road project that represents one of the largest public-private partnerships in Texas, begins its financial history clinging to investment-grade ­ratings.

DALLAS — Voters across Oklahoma went to the polls on Tuesday to support more than $470 million of school bonds requested by local districts. All five bond proposals on the ballot obtained the 60% majority needed to pass school bonds.

DALLAS — A $354 million general obligation bond issue outlined for trustees of the Tulsa County Independent School District No. 1 on Monday night would continue efforts contained in a 20-year capital improvement program adopted in 1995.

DALLAS — Austin may be moving toward a $600 million bond election as the City Council considers ways to build a light-rail system.

DALLAS — As the debut year for Build America Bonds nears its close, Denver Public Schools is joining other large issuers in the market this week with $225 million of the taxable debt, along with $24 million of tax-exempt refunding bonds.

DALLAS — Three large and growing school districts in Texas made significant leaps into the double-A leagues last week with Standard & Poor’s upgrades.