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It previously had issued revenue guidance of $86 million to $92 million.
Enterasys Networks also issued revenue estimates that were less than analysts had expected.
Municipal bankruptcies are rare, and most have involved tiny, special-purpose districts that did not even have general-obligation bonds, having issued revenue bonds, which are considered riskier because they guarantee repayment solely from money generated by a specific project like a toll road.
Salomon Smith Barney and the Nevada Department of Business and Industry issued revenue bonds, and LVMC would pay the expenses of operations and maintenance after receiving the bonds.
Two other companies in the flash market, Atmel and Franco-Italian chipmaker STMicroelectronics, both issued revenue warnings for the current quarter.
Merrill Lynch issued revenue estimates of $1.72 billion and $2.05 billion for 2004 and 2005, respectively, translating to 60% growth in 2004 and 19% growth in 2005.
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It will cover the rest itself by selling the current airport and issuing revenue bonds.
The proposal said Mesa and/or Arizona would issue revenue and general obligation bonds to pay for the stadium.
In some states, such as Pennsylvania, there has been widespread creation of special authorities, school building authorities, for example, that have been established with the power to finance the building of schools by issuing revenue bonds.
The measure authorizes the state to issue revenue bonds to buy power at lower prices than are available on the daily spot market and pass the electricity on to the state's nearly insolvent utilities.
Conceptually, the city would create a parking authority that would issue revenue bonds backed by the meter revenues in order to pay back the money.
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CEO of Professional Science Editing for Scientists @ prosciediting.com