Economy

Moody's Investors Service lowered its general obligation bond ratings for Clarendon Hospital District, S.C., to Baa2 because of its narrow cash position.

A bill by Colorado Sen. Randy Baumgardner would authorize $3.5 billion of tax revenue anticipation notes to capture low interest rates and accelerate highway construction in the state.

Proposed state legislation in California would raise the gasoline tax to generate an additional $3 billion a year for transportation projects.

Martin County, Fla., decided April 14 to hire Chicago-based McDermott, Will & Emery to institute litigation against the All Aboard Florida passenger train project.

Standard & Poor's converted its positive outlook on Utah Transit Authority to a one-notch upgrade to A-Plus on April 17, citing the authority's improved coverage ratios after a January refunding.

Texas Health Resources, the operator of a Dallas hospital that received international news coverage for its handling of an Ebola case, goes to market with $360 million of bonds after a Moody's upgrade.

Standard & Poor's upgraded Aspirus Inc. Obligated Group by one level to A-plus ahead of its $40 million fixed-rate issue.

Congressional proposals filed Thursday to bolster the Highway Trust Fund include a a 66% increase in the gasoline tax and corporate tax reform.

Virginia terminated its ties with a toll-road developer after spending almost $300 million on the $1.4 billion project.

A $15.1 billion, 16-year transportation package proposed by Washington State House Democrats includes more than $8 billion of new projects to be funded with an increase in the state gasoline tax and up to $4.3 billion of state general obligation bonds.

The Providence, R.I., City Council will consider a proposal to borrow $57.7 million for upfront costs of a 1.6-mile streetcar line.

Lower pump prices are boosting fuel consumption and vehicle miles traveled, leading to higher gas tax collections, a trend Moody’s Investors Service expects to continue over the near-term.

Tax reform proposals to curb tax exemption for municipal securities would create uncertainty in the market, possibly lead to higher borrowing costs, and hurt infrastructure development, issuer and borrower groups warned a Senate Finance Committee working group this week.

The $1.3 billion sweep of non general fund accounts to help close a shortfall in Illinois' current budget drew $300 from key transportation funds used to pay for capital projects and cover debt service, according to a report from a local government watchdog organization.

Congress should consider raising motor fuels taxes to shore up the dwindling Highway Trust Fund, a bipartisan grassroots group advocating responsible fiscal policy said this week.

Minnesota lawmakers should use the state's budget surplus for education and other services and approve new borrowing for transportation and infrastructure to make a lasting imprint on the state landscape, Gov. Mark Dayton urged in his state of the state address.

The Texas Department of Transportation would no longer be allowed to issue bonds backed by the Texas Mobility Fund under legislation approved by the state House.

The new Florida Development Finance Corp. board on Tuesday delayed reconfirming the agency's decision to be the conduit for $1.75 billion in private activity bonds for the All Aboard Florida train project.

Port of Oakland hopes a 360-acre trade and logistics center currently under construction will enable it to grab business from southern California's ports.

With some maturities oversubscribed by a factor of five, the North Texas Tollway Authority recorded net present value savings of nearly $90 million or 10% on an $866.5 million refunding, according to chief financial officer Horatio Porter.