Southwest

DALLAS — Texas voters today will decide whether to issue $2 billion of bonds for veterans housing, partner with the Veterans Administration on a South Texas hospital, and redirect a $450 million education fund toward the creation of more top-tier universities.

Reduced revenue could require Kansas to again lower aid to almost 300 local school districts by as much as $70 million. The state government has already reduced financial assistance by $215 per student since January.

The University of Arkansas Board of Trustees unanimously approved a $30 million revenue bond issue to finance a new residence hall and an outdoor sports complex at the University of Arkansas at Little Rock.

Phoenix Mayor Phil Gordon said last week that a temporary increase in the city’s sales tax could prevent additional cuts in municipal services that have already been pared down significantly.

The Texas Higher Education Coordinating Board on Thursday approved a proposal by the University of North Texas System for a 28,000-seat football stadium that will be financed in part with $38 million of student fee revenue bonds.

The Texas Department of Transportation is proposing $1.1 billion for the widening of heavily congested sections of Interstate 35 between Austin and Dallas using more than half of the so-called Proposition 12 bonds authorized by lawmakers.

DALLAS — Amid a continuing plunge in revenues, transportation planners in the Phoenix area are cutting nearly $7 billion from a $16 billion freeway program financed through revenue bonds.

DALLAS — Oklahoma Gov. Brad Henry and legislative leaders notified state agencies on Tuesday to expect monthly budget cuts through the remainder of fiscal 2010 as revenues continue to drop below expected levels.

DALLAS — The Arizona Department of Transportation estimates it would have to fire up to 60% of its workforce, halt all non-emergency maintenance, and close all highway rest stops under a legislative plan to close a $2 billion budget shortfall.

WASHINGTON — The Internal Revenue Service is auditing $61.3 million of auction-rate securities issued in 2005 by the Coastal Bend Health Facilities Development Corp. of Corpus Christi, Tex.