Economy

SAN FRANCISCO - As he had threatened, the federal receiver charged with bringing California's prison health care system up to constitutional muster yesterday sought a court order demanding $8 billion from the state government to build health care facilities.

The Orange County, Fla., Health Facilities Authority has disclosed that the Internal Revenue Service has closed an arbitrage rebate-related examination of $109.6 million of hospital revenue bonds it issued in 2002 without changing their tax-exempt status.

DALLAS - Supporters of a $42 billion transportation plan said yesterday they plan to sue Arizona Secretary of State Jan Brewer for invalidating the petition to place the proposal on the November ballot.

SAN FRANCISCO - The Los Angeles County Board of Supervisors yesterday placed the Los Angeles County Metropolitan Transportation Authority's $40 billion sales tax measure on the November ballot.

Rapid City-based Regional Health is set to enter the market Thursday with $67.5 million of variable-rate demand bonds, most of which will be used to refund insured variable-rate debt originally sold in 2003.

DALLAS - Texas' Bexar County Hospital District will sell the first tax-supported debt in 43 years with Monday's negotiated sale of $274.1 million of combination tax and revenue certificates of obligation.

Massachusetts could tap into tobacco settlement and rainy-day funds to help pay down a $13.3 billion other post-employment benefit liability, according to a report released last week on the commonwealth's unfunded health care costs.

A proposal New York Gov. David Paterson announced yesterday to cut local assistance spending by 6% and to cut $506 million from Medicaid spending drew sharp criticism from organizations representing hospitals and municipalities.

DALLAS - Baylor College of Medicine in Texas will get closer to eliminating its outstanding auction-rate debt and all outstanding debt enhanced with insurance from Ambac Assurance Co. with next week's planned negotiated sale of $255 million of hospital revenue refunding bonds by the Harris County Cultural Education Facilities Finance Corp.

WASHINGTON - The anemic federal highway trust fund and the overall U.S. transportation funding system are in dire need of help from Washington lawmakers, Rep. John L. Mica, R-Fla., said yesterday at a meeting of transportation officials in Florida.

The Massachusetts Turnpike Authority can now use the state's appropriation pledge on an upcoming $800 million refunding deal after Gov. Deval Patrick yesterday signed into law a more than $2 billion general bond bill that will help finance capital improvements throughout the state.

CHICAGO - A DuPage County, Ill., Circuit Court judge yesterday cleared the path for Chicago's demolition of about 500 suburban homes to make room for the $7.5 billion runway expansion plan at O'Hare International Airport, although local opponents vowed to carry on their legal challenge.

DALLAS - With airlines under unprecedented financial stress, Dallas-Fort Worth International Airport is continuing to cut costs to help its tenants survive, officials said yesterday.

DALLAS - The president of a Tulsa police association has warned the city council about devoting too much of the city's financial resources to a proposed 12-year, $2 billion street maintenance program.

The Massachusetts Turnpike Authority will review proposals for underwriting services on a $800 million refinancing bond deal that officials expect to price later this year.

WASHINGTON - Gasoline prices at $4.00 or more per gallon for a prolonged period could depress toll road traffic and revenue, and compel governments to increase tolls to prevent credit rating downgrades, Moody's Investors Service warned in a report issued today.

Hartsfield-Jackson International Airport in Atlanta was named the world’s busiest airport in 2007 by the Airports Council International.

SAN FRANCISCO - The Los Angeles County Metropolitan Transportation Authority's $40 billion sales tax measure has been caught in a traffic jam. It's unclear whether the 30-year, half-cent sales tax will make it to the November ballot.

Pennsylvania Turnpike Authority officials yesterday announced a proposed electronic tolling plan on Interstate 80 that would implement nine stations along the roadway, bringing in roughly $450 million of toll revenue each year.

CHICAGO - The board of the Wayne County Airport Authority recently approved a $3.6 billion master plan for the Detroit Metropolitan Wayne County Airport that postpones plans to build a fifth runway and a passenger monorail line.