Economy

Ohio Gov. John Kasich is expected to sign into law a new two-year, $7.6 billion transportation budget that features as its centerpiece Kasich's proposal to issue debt backed by future turnpike tolls.

Pennsylvania Turnpike Commission Secretary-Treasurer J. William Lincoln resigned from the panel in the aftermath of a grand jury report over pay to play.

Dallas-Fort Worth International Airport is expected to become one of the nation's most indebted airports with $737 million of revenue bonds for its terminal remodeling project, helping prompt a Moody's downgrade.

The Virginia attorney general's office has issued an opinion that a sweeping new transportation law passed by the legislature last month violates the state constitution.

Moody's Investors Service downgraded Dallas-Fort Worth International Airport's revenue bonds to A2 from A1 ahead of nearly $800 million of bonds expected to be issued in April.

Florida's Santa Rosa Bay Bridge Authority has scheduled a meeting April 10 but a resolution to the agency's ongoing default on $131.2 million of bonds is not expected to be on the agenda.

A proposal by state officials for a municipal road and bridge revolving fund brings under-the-radar Rhode Island Clean Water Finance Agency to the forefront.

Pittsburgh Mayor Luke Ravenstahl is challenging the nonprofit status of the University of Pittsburgh Medical Center, Pennsylvania's largest employer.

Chicago must compensate the private operators of four downtown city- and park district-owned parking garages for $58 million in lost revenue and interest stemming from the city's approval of a competing parking facility.

Fewer than half of likely California voters favor current plans for construction of a bullet train system or support an $11 billion water bond slated for the 2014 ballot, according to a public opinion poll.

Moody's Investors Service downgraded the rating on bonds sold for Wake Forest Baptist, N.C., to A1 from Aa3 on Wednesday citing an unexpected decline in financial performance. The action affects $597.2 million of outstanding bonds.

Louisiana Bond Commission to pick underwriters and bond counsel for $173 million refunding of highway revenue bonds.

The Florida Cabinet Tuesday authorized the issuance of up to $490 million of turnpike refunding bonds to lower interest rates within existing maturities.

The California High-Speed Rail Authority authorized the eventual sale of $8.6 billion of bonds to fund the first stage of a 500-mile bullet train system.

The New Jersey Turnpike Authority is selling $1.4 billion in revenue bonds to support a $7 billion capital program.

Kansas's 10-year, bond-financed highway program will slow to a crawl if lawmakers allow a sales tax to expire and divert transportation funds to other purposes, said Transportation Secretary Mike King.

The Ohio Senate last week approved a $7.6 billion, two-year transportation budget that includes authority to issue $1.5 billion of bonds backed by a new Ohio Turnpike credit to generate up to $3 billion for transportation projects.

Moody's Investors Service last week downgraded to A3 from A2 its rating on Adena Health System, Ohio and revised the outlook to negative from stable.

County executives in southeast Michigan made their final appointments to a newly created four-county Regional Transit Authority.

Standard & Poor's has raised Rush University Medical Center Obligated Group's rating by one notch to A in recognition of the system's new patient tower and good operating performance.