Southwest

A bill that advanced last week in the Texas Legislature would force a citywide vote on bonds for the Project Connect plan to build light rail.

The Republican-controlled legislature sent the governor a tax cut bill that included replacing the state's three-tier personal income tax structure with a flat 5.15% rate.

A bill to prevent developers from buying bonds issued by their metropolitan districts died, but another measure limiting interest rates in such cases was enacted.

Photos from The Bond Buyer's Texas Public Finance conference.

The taxable bonds would finance a bottling and other facilities, which would be leased to a private business.

Dueling analyses out this week found the mixed-use development will either underperform or outperform in generating revenue for Tempe.

Participants in the Texas municipal market raised concerns over bills that would constrain debt issuance.

The Southern California Public Power Authority plans to price $700 million in revenue bonds for improvements to a 488-mile power transmission system.

Ongoing litigation and a state investigative audit could impact bonds for a $5 billion expansion even if the debt is validated by the Oklahoma Supreme Court.

The early termination of the agreement is the latest setback for Legacy Cares, Inc., which has defaulted on bonds sold to finance the facility.