Southwest

WASHINGTON — The Internal Revenue Service has closed its audit of $161.3 million of variable-rate demand student housing revenue bonds issued by the Payne County, Okla., Economic Development Authority in 2002 with no change to the tax-exempt status of the debt.

DALLAS — As Arizona voters go to the polls today to decide whether to boost revenues by $1 billion through a temporary sales tax increase, the distressed state is also preparing to issue $450 million of lottery bonds to keep its wobbly budget in balance.

DALLAS — Denver’s latest plan to build a long-delayed hotel at Denver International Airport would use revenue bonds to finance construction of the facility atop a planned commuter rail line at the south end of the landmark Jeppesen Terminal.

DALLAS — Kansas lawmakers approved a $13.6 billion balanced budget for fiscal 2011 on Tuesday, and sent a bill authorizing a 10-year, $8.2 billion transportation program to Gov. Mark Parkinson.

DALLAS — In an effort to protect its $180 million investment in the Jobing.com Arena, Glendale, Ariz., is willing to cover up to $25 million in losses for the National Hockey League’s Phoenix Coyotes to keep them playing there.

DALLAS — A combination of falling tax revenue, increased demand for state services, and the lack of federal stimulus funds could result in Texas lawmakers having up to $18 billion less to appropriate for the next two-year budget cycle.

DALLAS — Texas voters approved more than $1.4 billion in local school bond proposals on Saturday, while rejecting bond requests totaling more than $634 million.

DALLAS — Less than two years after voters rejected a $395 million bond issue, Colorado’s affluent Douglas County School District will issue $79.6 million of general obligation refunding bonds while struggling to cut costs.

WASHINGTON — Last month, the Oklahoma fire marshal’s office cut staff again, dropping its headcount to 27 workers from 34 at full capacity four years ago, as another round of spending cuts was imposed.

DALLAS — The Kansas Senate on Wednesday approved a $13.6 billion general fund budget for fiscal 2011 that will require lawmakers to raise taxes by at least $350 million.