Economy

CHICAGO - The University of Chicago Medical Center said yesterday it was "proud" of its charitable care record after receiving a questionnaire on its practices from the U.S. Senate's leading proponent of heightened congressional oversight of nonprofit hospitals and whether they warrant the perks of their tax-exempt status.

The Port Authority of New York and New Jersey last week got a reprieve in what could prove a lengthy dispute over the Federal Aviation Administration's proposed auctioning of two flight slots at Newark Liberty Airport.

The Arizona Supreme Court last week upheld a lower court’s determination that not enough valid signatures were obtained on petitions seeking a statewide referendum on an increase in the sales tax to fund a proposed transportation effort.

Capital Metro hoped to begin its Leander-to-Austin commuter train service by late fall, but officials said last week that two of the planned nine train stations will not be ready until February or March 2009.

DALLAS - The Texas Department of Transportation begins its fiscal year this week with new leadership, a record $8.3 billion budget, and $1.5 billion of newly mandated bonds amid a challenging political environment.

DALLAS - The Tulsa City Council reversed its earlier approval of a 12-year, $2 billion street improvement plan and decided instead to send a five-year, $451.6 million program to the voters in November.

The Internal Revenue Service has closed its audit of $40 million of 2002 revenue bonds issued by the Illinois Health Facilities Authority, now part of the Illinois Finance Authority, without changing the tax-exempt status of the debt, the IFA disclosed Thursday.

A 10% fare increase on the PATCO light-rail line and toll increases on Delaware River Port Authority of Pennsylvania and New Jersey bridges are set to go into effect later this month as Gov. Jon Corzine last week announced that he will not overturn the authority's decision to boost fares and bridge tolls.

CHICAGO -Capital spending is expected to remain heavy across the nonprofit health care sector amid mounting financial pressures and the fallout from the collapsed auction-rate securities market, according to a pair of reports released this week by Moody's Investors Service and Standard & Poor's.

Massachusetts may be heading closer to a settlement agreement with Bank of America Corp., as the bank agreed to redeem $43 million of auction-rate securities owned by the Massachusetts Turnpike Authority and the Massachusetts Housing Partnership.

Voters in northern San Diego County this week rejected a bond measure to rebuild the Tri-City Healthcare District’s hospital to meet state-mandated earthquake safety standards for a third time.

CHICAGO - Moody's Investors Service and Fitch Ratings have cut their ratings on William Beaumont Hospital as the Michigan-based system prepares to enter the market soon with more than $700 million of revenue bonds. Standard & Poor'swarned it is considering a downgrade as well

There will be one more big public hearing to praise or criticize plans to build a 16-mile toll highway in Orange County.

DALLAS - Galveston County, Tex., will improve roads and consolidate administrative offices into renovated facilities if voters approve a $135 million general obligation bond package in November.

Fitch Ratings this week placed its low investment-grade rating for Missouri's Lake of Ozarks Community Bridge Corp. on negative watch due to a downturn in bridge traffic this year and management's unwillingness to raise tolls.

A fight over the Federal Aviation Administration's plan to auction flight-slot leases at Newark Liberty Airport next week heated up yesterday when five airlines and a trade organization filed additional paperwork in a bid to halt the plan.

Financial woes at the Massachusetts Turnpike Authority continue to dominate board meetings as officials review dipping into reserve funds to help support basic capital maintenance on the system.

DALLAS -New Mexico's $1.6 billion highway and rail transit program named for Gov. Bill Richardson will remain on track after lawmakers in a special session last week approved an extra $200 million, the former presidential candidate said.

DALLAS - Voters in Tulsa will decide in November on a 12-year, $2 billion street maintenance program after a divided City Council narrowly put the measure onto the ballot during a heated meeting Thursday night.

Add Connecticut to the list of states looking for additional resources to finance growing infrastructure demands.