US states, cities vote on finance issues next week

CHICAGO, Oct 30 (Reuters) - Revenue limits, casino gambling and some big bond issues for veterans, schools, a hospital and other projects will be decided by voters in several U.S. states on Tuesday. There are only 26 state-wide measures on ballots this year compared to 34 in the last odd-year election in 2007, according to the National Conference of State Legislatures. Two states, New Jersey and Virginia, will also elect governors. Washington state voters will decide whether to approve or reject Initiative Measure 1033, which would limit growth of certain state, county and city revenue to annual inflation and population growth, not including voter-approved revenue increases. Revenue collected above the limit would reduce property tax levies. In Maine, voters will decide on TABOR II, or Taxpayer Bill of Rights.

TABOR II is a citizen-proposed measure to cap state and local government spending by imposing limits based on population growth and inflation. Ohio would open the door to casinos in Cincinnati, Cleveland, Columbus and Toledo under Issue 3. Proponents of the measure, which include Penn National Gaming, say the casinos will create 34,000 jobs, bring $200 million in licensing fees and generate an estimated $651 million annually in revenue for cash-strapped Ohio and its local governments and school districts. But voters have turned down casinos in previous elections. Voters in Ohio will also decide whether to issue $200 million of bonds to provide services and compensation to residents who are veterans of conflicts in the Persian Gulf, Afghanistan and Iraq. Texans will be voting on several financial questions, including whether to create a national research university fund to help state institutions and whether to allow the Veterans' Land Board to issue general obligation bonds to help ex-military members buy homes. The veterans program dates back to 1946, and had $1.87 billion of outstanding debt as of August 2008, according to Fitch Ratings. Other ballot questions include whether to allow Texas to fund and run veterans' hospitals and enable municipalities or counties to issue debt to buy space that surrounds military installations. New Jersey voters will decide on $400 million of bonds to safeguard farmland, open space and historic sites, for example. Among local bond questions on Tuesday's ballot is a $704 million bond issue before voters in Marion County, Indiana, which includes Indianapolis, to build new facilities for Wishard Hospital. Detroit voters will take up a $500 million bond issue for its financial struggling school district. An affirmative vote would allow the district to take advantage of federal subsidies on bond interest costs under the American Recovery and Reinvestment Act. Virginia's Fairfax County will vote on a school construction bond issue for nearly $233 million of bonds. Two Utah school districts are seeking approval for hefty bond sales. The Davis School district wants $250 million of bonds, while the Granite School District has proposed $256 million of bonds. Surprise, Arizona, residents will vote on nearly $185 million of bonds for various projects. (Reporting by Karen Pierog; Additional reporting by Joan Gralla and Tom Ryan in New York and Jim Christie in San Francisco; Editing by James Dalgleish) Keywords: MUNICIPALS ELECTION/BALLOT Keywords: MUNICIPALS ELECTION/BALLOT ([e-mail]; Tel: [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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