Economy

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.

DALLAS - Fitch Ratings cited New Orleans' gradually improving economy in raising the rating on the city's tax-secured general obligation bonds to BBB from BBB-minus yesterday. The move applies to $523.9 million in outstanding GO debt.

WASHINGTON - Two lawsuits in federal courts seeking class action status that claim it's illegal for tolling authorities in Rhode Island and Massachusetts to discount tolls for certain residents and not others could spell trouble for toll-backed muni bonds and potentially affect issuers in other states, some market participants said.

The Massachusetts Health and Educational Facilities Authority Thursday will create a merger committee to move forward with Gov. Deval Patrick's plans to combine the authority with the Massachusetts Development Finance Agency, although market participants worry the initiative may increase borrowing fees.

DALLAS - The Harris County Toll Road Authority serving the Houston area expects a good reception when it takes $250 million of senior-lien revenue bonds to market next week.

The Arkansas Highway Commission last week approved the state’s first road projects financed through federal stimulus funds by awarding $21.2 million of highway resurfacing work.

CHICAGO - Chicago-area not-for-profit hospitals enjoy an estimated $498 million in tax-exemption benefits annually while collectively providing just $176 million in charity care, according to a new report from a Chicago-based fiscal research organization.

CHICAGO - A nonprofit hospital's debt structure - particularly its variable-rate debt exposure and associated liquidity risks - is one of several credit factors that Moody's Investors Service will pay special attention to in 2009, the rating agency said in a report released yesterday.

Moody's Investors Service's rating action on the Metropolitan Transportation Authority's revenue bonds on Friday didn't appear to have an impact yesterday on secondary trading of the cash-strapped New York agency's bonds.

BRADENTON, Fla. - Miami-Dade County Mayor Carlos Alvarez is objecting to the Florida Department of Transportation's decision to reject further negotiations with the concessionaire originally selected to build the $1.2 billion Port of Miami Tunnel project.

House members last week approved their version of a transportation reform bill, one that would terminate the Massachusetts Turnpike Authority and allow the state to issue special obligation bonds to help finance future infrastructure improvements throughout the state. The bill received initial approval in the lower chamber in a 147 to 7 vote.