Industries

CHICAGO — The Indiana General Assembly last weekend wrapped up its session with some major highlights, authorizing the privatization of two of the state's largest infrastructure projects and moving to preserve recent property tax caps by making them part of the state constitution.

Illinois Gov. Pat Quinn last week signed legislation allowing the state to issue $250 million of general obligation certificates in the current fiscal year to leverage additional federal matching dollars for Medicaid.

BRADENTON, Fla. — The Miami-Dade County Commission today will review a financial crisis that has enveloped the public health system whose flagship is Miami’s Jackson Memorial Hospital.

A tax bill amendment that was introduced last week by Sens. Jay Rockefeller, D-W.Va., and Byron L. Dorgan, D-N.D., would establish a pilot program for six airports to collect potentially unlimited passenger facilities charges.

DALLAS — Houston’s Metropolitan Transit Authority said it plans to issue $2.6 billion of bonds to finance five new light-rail lines, even though voters only authorized a quarter of that amount.

WASHINGTON — A high-level Department of Transportation official told lawmakers yesterday that the Obama administration will support “ambitious local initiatives” for large-scale projects, such as a 12-line transit project in Los Angeles.

Congressional foot-dragging on federal transportation policy reverberated again at the state level this week, as the Missouri Department of Transportation decided not to put projects out for bids, making March the second consecutive month the state canceled bids due to federal funding uncertainty.

DALLAS — After years of battling opposition to a $1.8 billion toll road proposal on the Trinity River near downtown, ­Dallas is facing another financial challenge to the star-crossed project.

The Chesapeake Regional Medical Center this week was upgraded to A2 from A3 by Moody’s Investors Service based on its consistently strong balance sheet. The action affects $39.4 million of fixed-rate debt issued in 2004.

CHICAGO — The Illinois Finance Authority yesterday advanced more than $800 million of new-money and refunding debt planned by various organizations, including the Art Institute of Chicago, the Alexian Brothers Health System, and Palos Community Hospital.

CHICAGO — Indiana would be allowed to privatize two of the state’s largest proposed infrastructure projects under a measure on its way to Republican Gov. Mitch Daniels’ desk.

Connecticut Gov. M. Jodi Rell yesterday proposed the construction of a new hospital and health care facilities that would use $227 million of state general obligation bonds and other funding sources.

Detroit could break ground on the first phase of a long-planned light-rail project along one of its main thoroughfares by the end of the year, Mayor Dave Bing said last week.

Kansas Gov. Mark Parkinson last week ordered an immediate halt to all new state road maintenance projects as part of his plan to avoid a $106 million revenue shortfall in fiscal 2010.

Allegheny County officials are working on a $2 billion initiative to expand public transportation between downtown Pittsburgh and its Oakland neighborhood — the city’s academic and cultural hub — and to boost mass transit within Oakland itself.

CHICAGO — St. Louis-based Ascension Health on Wednesday launches the first piece of its $1.34 billion new-money and restructuring deal that will raise funds for projects across its network, while also allowing the system to further reduce risk exposure and lower its maximum annual debt service.

ORLANDO, Fla. — Two members of Florida’s congressional delegation Friday said more federal funding is on the way for high-speed rail for the state and other areas of the country.

The South Jersey Transportation Authority wasted thousands of dollars due to mismanagement and lack of oversight, according to an audit released last week by the state’s office of inspector general.

New Jersey Transit last week announced plans to raise rail and bus fares 25% to generate $140 million of new revenue and help plug a $300 million gap.

ORLANDO, Fla. — Florida will need full funding to build a high-speed rail network from Tampa to Orlando, and eventually on to Miami, Nazih Haddad, chief operating officer for the state’s new Florida Rail Enterprise program, said yesterday.