Economy

DALLAS - With the credit market still awaiting a thaw, the North Texas Tollway Authority approved a plan to complete the takeout of $3.5 billion of bond anticipation notes by the Nov. 19 deadline.

A committee of the Milwaukee County Board last week rejected county Executive Scott Walker’s plan to include $500,000 in the $1.4 billion 2009 budget to hire consultants to help craft a proposal to privatize Mitchell International Airport.

CHICAGO - When General Motors Corp. last week lobbied Detroit's two pension funds to invest in its prominent downtown headquarters to help raise $500 million, some saw it as an illustration of the severity of the fiscal pressures facing the U.S. auto industry.

The Oklahoma Transportation Commission last week approved an estimated $4 billion construction plan for the next eight years that will include projects in each of the state’s 77 counties.

Public-private partnerships for transportation deals that involve concessions are likely to be held to new standards on pricing and competition, under a rule proposed last week by the Federal Highway Administration.

DALLAS - With short-term interest rates in a volatile state, the Texas Department of Transportation is planning a current refunding of $150 million of variable-rate toll bonds, most of which are held by Germany's Depfa Bank.

New Jersey officials last week approved toll increases on three toll roads, a move that will boost debt service coverage on New Jersey Turnpike Authority debt and help fund transportation infrastructure projects throughout the state.

The Federal Aviation Administration plans to go ahead with auctions of flight slots at three airports owned by the Port Authority of New York and New Jersey, the U.S. Department of Transportation announced yesterday.

CHICAGO - The Michigan State Hospital Finance Authority this week signed off on roughly $1.5 billion in bond sales even as the hospitals seeking debt indicated the timing of their transactions is uncertain amid the current market turmoil.

WASHINGTON - House Speaker Nancy Pelosi will convene a forum here Monday to launch the development of a second economic stimulus package.

The Massachusetts Bay Transportation Authority is eager to sell $350 million of new-money assessment bonds, once market conditions allow for the agency to issue long-term debt.

The New Jersey Turnpike Authority plans to vote on its proposed toll hikes at a special meeting set for Friday, with those potential changes to take effect on or about Dec. 1, according to spokesman Joe Orlando.

The highway advocacy group Driving Louisiana Forward has launched an effort to boost state spending on road and bridge projects by at least $145 million a year.

CHICAGO - General Motors Corp. today will make a presentation to the Detroit Police and Fire Retirement System to try to persuade the pension board to loan the ailing automaker up to $500 million by investing in GM's prominent downtown Detroit headquarters.

DALLAS - Tarrant County, Tex., voters approved about $433.1 million of debt for new roads and criminal justice facilities in May 2006, but cost increases and credit market upheaval have kept most of the road projects on the shelf.

CHICAGO - Chicago would bar financial institutions from inclusion in city bond deals if they seek aid from the federal government's bailout plan but don't strictly limit executive compensation under an ordinance introduced yesterday to the City Council.

The Oktibbeha County Board of Supervisors on Nov. 4 will ask voters to approve issuing $27.5 million of general obligation bonds. Proceeds would be used to make improvements to the Oktibbeha County Hospital.

CHICAGO - As local governments across the country struggle with rising fuel costs, Indiana is launching a gasoline and diesel fuel-hedging program designed to help its municipalities offset the growing expense.

Denver International Airport lost $12 million in the first six months of the year, despite rising revenue. The airport reported a $9.2 million profit for the same period in 2007.

SAN FRANCISCO - California officials appear to have received at least a temporary reprieve from the full scope of a federal court motion demanding $8 billion to implement a state prison hospital construction program.