Economy

Virtua Health in southwestern New Jersey will issue $565 million of fixed- and variable-rate bonds in the next few weeks to finance a new 368-bed hospital set to open spring 2011.

The Massachusetts Health and Educational Facilities Authority last week created an eight-member advisory committee to evaluate a possible merger with its sister authority, the Massachusetts Development Finance Agency.

Pennsylvania airports received a boost last week as four facilities gained $10.5 million from the federal stimulus package, including $5 million for Philadelphia International Airport for runway rehabilitation.

Holders of Grace Manor health care facility bonds will be looking to the State of New York Mortgage Agency to make them whole following the nursing home's bankruptcy filing earlier this month.

BRADENTON, Fla. - After a three-day political powwow at the state capital last week, Florida Transportation Secretary Stephanie Kopelousos agreed to resume negotiations with the concessionaire originally chosen to finance and build the $1.2 billion Port of Miami Tunnel Project.

DALLAS — The Harris County Toll Road Authority is coming to market this week with the first of two sales expected this year to fund completion of the Sam Houston Tollway and extension of the Hardy Toll Road to downtown Houston.

A program to fund congestion-related transportation projects that is likely to be included in a forthcoming federal transportation bill may allow metropolitan areas to issue tax-exempt bonds and taxable tax-credit bonds.

DALLAS — Louisiana will avoid $75 million of a potential $120 million in swap termination fees on a delayed issue of $485 million of fuels-tax revenue bonds with a reconfigured structure that will finance an ongoing highway improvement program for the next six to 12 months.

WASHINGTON — The Obama administration yesterday unveiled its strategy for the creation of a national high-speed rail network, inviting states and localities to compete in the coming months for federal funding. The grants may favor states that can provide matching funds, from bonds or other sources, market participants said.

The New Jersey Turnpike Authority yesterday nearly tripled the size of its revenue bond deal set for Monday to $1.75 billion from $650 million, with the transaction to potentially include $1.25 billion of taxable Build America Bonds.

West Virginia is looking at increasing turnpike toll rates this summer. It would be the first toll increase since 1981.

BRADENTON, Fla. - Miami-Dade County is preparing to sell $600 million of airport revenue bonds in an offering next week that takes advantage of provisions in the federal stimulus bill that allows the county to sell the debt without being subject to the alternative minimum tax.

Advocate Condell Medical Center announced that it has named David Cartwright its new vice president in finance.

Porter County officials have said they plan to withdraw from the Northwest Indiana Regional Development Authority, a move that could impact a proposed $1 billion commuter rail expansion and development at the Gary/Chicago International Airport.

DALLAS - With the money running out within weeks, Louisiana officials have yet to agree on a structure for issuing $485 million of fuel tax bonds that would finance constitutionally mandated road projects.

New York's Metropolitan Transportation Authority plans to sell $200 million of taxable Build America Bonds next week, with a one day for retail orders Wednesday and institutional pricing Thursday.

Standard & Poor’s earlier this month stripped Care Initiatives’ $86 million of debt from a 2006 issue of its investment-grade status

Nearly a third of Ohio’s hospitals surveyed by an industry group said they have cancelled or delayed construction and capital-improvement projects as they struggle to maintain fiscal stability.

DALLAS - The Texas House this week is considering a $300 million appropriation to pay debt service for what would be the first issue from $3 billion in cancer research bonds, but the path to actual issuance is complicated by a requirement for private investment.

Voters in Topeka last week approved a proposal to levy an additional 0.5% sales tax to repair streets and other infrastructure by a margin of 47% to 43%. The 10-year tax will go into effect Oct. 1, and cannot be extended without voter approval.