Economy

With its major tenant, American Airlines, in bankruptcy, Dallas-Fort Worth International Airport is taking advantage of low interest rates and a favorable tax ruling in a $450 million refunding.

CHICAGO — Cleveland Hopkins International Airport will enter the market Wednesday with $241 million of airport system refunding bonds.

The Arkansas Trucking Association plans to seek voter approval next year for an increase in the state tax on diesel fuel to finance highway construction projects.

Republicans on the House Ways and Means Committee quashed a Democrat-backed amendment seeking to revive many muni bond measures from the 2009 stimulus package as they voted Friday to approve a bill that would authorize the transfer of domestic energy development revenues into the Highway Trust Fund.

WASHINGTON — The Internal Revenue Service is auditing $31.59 million of Series 2004A first mortgage revenue bonds that were issued by the St. Johns County Industrial Development Authority in August 2004 to help Presbyterian Retirement Communities Inc. and its affiliates finance improvements to eight retirement centers in Florida.

Providence Mayor Angel Taveras warned that the Rhode Island capital will run out of money in June without a reduction in pension obligations and larger contributions from tax-exempt institutions such as Brown University.

DALLAS — Alliance Texas, one of the most successful multi-modal inland ports in the nation, will suffer a blow to employment when bankrupt AMR Corp. closes its American Airlines maintenance base in Fort Worth.

Michigan lawmakers have unveiled a series of bills that would revamp the state's transportation infrastructure formula, raise $1 billion of new money, and create a new bond-issuing regional transit authority for the Detroit region.

The House Transportation Committee is expected to approve the $260 billion five-year highway and transit funding bill sponsored by its chairman, Rep. John Mica, R-Fla., despite sharp partisan bickering and an avalanche of amendments proposed by Democrats, none of which are expected to move forward.

In anticipation of a $5.3 billion rail project coming in under budget, Honolulu transit authority officials are contemplating adding additional features to the system like a fare gate system, according to published reports.

Adding toll lanes to the proposals for upgrading portions of U.S. 90 to Interstate standards in the Lafayette area could provide up to half of the financing, according to a new traffic study.

Kentucky has begun the search for contractors interested in designing and building its portion of the Louisville-Southern Indiana Ohio River Bridges Project.

Providence may appeal a Rhode Island Superior Court ruling Monday that for now stops it from switching police and fire retirees to Medicare after they turn 65.

In the wake of a Congressional Budget Office projection that the primary funding source for America's roads may become insolvent next year, House Republicans rolled out a proposal for a five-year surface transportation funding bill and a bipartisan group of lawmakers made a push to solve the crisis with tax-credit bonds.

DALLAS — Two years after sharply retrenching in a harsh economy, Dallas Area Rapid Transit is enjoying a lift in its credit score from Fitch Ratings along with rising sales tax revenue and lower construction costs.

BRADENTON, Fla. — A libertarian think tank is disputing the savings that might occur if two high-profile Florida expressway authorities are partially consolidated with the state-run Turnpike Enterprise.

The Triborough Bridge and Tunnel Authority will offer a mandatory tender and purchase Tuesday of all three outstanding series of its variable-rate general revenue bonds, Series 2003 and 2005, totaling about $535 million.

Houston last week broke ground on a $1 billion bond-financed redevelopment of George Bush Intercontinental Airport.

Robert Shepard has resigned as the governor-appointed director of the North Texas Tollway Authority’s board. Shepard’s resignation comes as the board faces a probe into it past business practices by the Federal Bureau of Investigation, but his departure is said not to be related to that inquiry.

The effort by the Kansas City suburb of Mission to tax residents for roadwork is illegal and cannot be collected, Attorney General Derek Schmidt said last week in a non-binding opinion.