Economy

New Jersey’s not-for-profit hospitals avoided cuts in state aid for the current fiscal year, but that could change for the fiscal 2012 state operating budget, according to Moody’s Investors Service.

States and localities pay for a much larger share of transportation and water infrastructure projects than the federal government, but in recent years the total amount of money spent on these projects by all levels of government has declined significantly, according to a 62-page report issued this week by the Congressional Budget Office.

Drivers on the Highway 520 floating bridge over Lake Washington could be paying tolls by spring.

With two newly elected Midwestern governors entering office on platforms opposing high-peed passenger train projects in their states, California Gov. Arnold Schwarzenegger is telling the federal government that he would be happy to take their money.

DALLAS — New Orleans had hoped to get up to $1 billion from leasing Louis Armstrong New Orleans International Airport to a private operator. But the recent decision by the city to terminate the privatization effort leaves it reconsidering an earlier proposal that included a possible transfer of the facility to Louisiana.

The New York State Thruway Authority approved a $1.1 billion budget Wednesday with no plans to issue general revenue bonds in 2011 for capital projects. Instead, the agency plans to roll over its $680 million of outstanding bond anticipation notes that are due in mid-2011.

New York’s Metropolitan Transportation Authority projected that lower returns on pension fund investments would widen out-year budget gaps, officials announced during a budget presentation Wednesday.

Wake County’s tax base is expected to grow by less than 1% in the current fiscal year, hampered by flat sales-tax revenue and continued declines in motor vehicle tax collections, the county’s top commissioner said this week.

WASHINGTON — Airport executives made one more attempt this week to convince Senate tax lawmakers to extend two popular bond-financing provisions beyond the end of this year so that airports can continue to borrow at lower rates.

Pittsburgh City Council President Darlene Harris Tuesday introduced a resolution that would direct additional parking-fee revenue into the city’s pension fund to help boost its funding level and ward off a potential state takeover.

CHICAGO — Indianapolis will lease its parking meters for 50 years to a private company under a controversial plan by Mayor Greg Ballard that was narrowly approved Monday by the city-county council.

The Missouri Highways and Transportation Commission recently named engineer Kevin Keith as director of the Missouri Department of Transportation.

Michigan Attorney General Mike Cox last Saturday approved the $1.5 billion sale of the Detroit Medical Center to a for-profit Tennessee-based health care company. The deal awaits federal approval and is expected to close Dec. 31.

Moody’s Investors Service has revised its outlook on Edward Health Services Corp.’s A2 rating to positive from stable in recognition of its improving operations, affecting $282.4 million of debt.

Moody’s Investors Service has upgraded Rush University Medical Center’s Obligated Group rating by one notch to A2 due to its improved operating performance in recent years.

The Federal Aviation Administration on Monday said it would fund the design and construction of a second new control tower at O’Hare International Airport as part of an $8 billion runway expansion.

DALLAS — Amid a flood of municipal issuance in the last six weeks of the year, the North Texas Tollway Authority will bring around $1.5 billion of debt to market, starting with nearly $500 million of tax-exempt refunding revenue bonds this week.

New York’s Metropolitan Transportation Authority tabled the selection of a new underwriting syndicate after a board member questioned the choices at a finance committee meeting Monday.

CHICAGO — Aurora Health Care Inc. in Wisconsin enters the market as soon as Tuesday to refund $140 million of outstanding debt in a deal officials scaled down from $377 million due to rising long-term interest rates.

SAN FRANCISCO — A public employee union is suing to block a California public-private partnership that would design, build, operate, and maintain a six-lane link between San Francisco and the Golden Gate Bridge.