Southwest

It marks a major step forward for the long-stalled high-speed train project between Dallas and Houston.

A voter-approved charter amendment requiring a bigger police force spurred Moody's Ratings to revise its outlook on the city's A1 bond rating to negative.

The rating agency said the one-notch downgrade, which comes ahead of a bond sale, was due to weaker operating performance and liquidity.

Legislation to continue a sales tax and revenue bond program until July 1, 2028, and allow its use for mall redevelopment projects, passed the Senate.

Issuers in the eight-state region sold $103.3 billion of bonds last year, with Texas deals accounting for $68.13 billion of the debt.

Moody's is the latest rating agency to warn about a budget squeeze for Texas schools, which have been prolific issuers of voter-approved bonds in recent years.

The South San Antonio Independent School District, which has had a state conservator, will now get a state-appointed board of managers and superintendent.

A charter school in San Antonio is expected to close at the end of the year, jeopardizing $25 million of municipal bonds the institution borrowed in 2022.

The state will have less money to spend in the upcoming fiscal year, according to projections certified in a process criticized by Oklahoma's attorney general.