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November 4, 2008 is not very far away. As we prepare for the election and study which candidates we want to vote for (look for candidate profiles in our paper starting up soon), we must also remember there are two statewide referenda questions.
And they are both bonds.
Question 1 is for transportation bonds totaling $87,215,000. The question reads: Approval of this question will authorize the State of R.I. to issue general obligation bonds, refunding bonds, and temporary notes in an amount not to exceed $80,000,000 to match federal funds and provide direct funding for improvements to the state’s highways, roads, and bridges; $3,570,000 to provide funding for commuter rail, and $3,645,000 to purchase and/or rehabilitate buses for the R.I. Public Transit Authority’s bus fleet.
This will be a hard sell in this economic climate even though, if approved, the bond will garner $80 million in federal matching funds. The fact that we need quality roads/bridges and improvements and that many of these improvements can last from ten to 30 years is of little consequence after watching the Dow Jones Industrial average nosedive 777.68 points on Monday. No matter what your opinion is on this bond, the fact is that much of Rhode Island’s economy revolves around transportation – highways, roads, bridges, commuter rail, and even new buses. It’s how people get to work and do work.
Question 2 is a $2,500,000 bond for open space and recreational development. The question reads: Approval of this question will authorize the State of R.I. to issue general obligation bonds, refunding bonds, and temporary notes in an amount not to exceed $2,500,000 to be used by the Department of Environmental Management to purchase or otherwise permanently protect through the purchase of the title, development rights, conservation easements and public recreation easements, greenways, and other open space, recreation lands, agriculture lands, forested lands and state parks. This bond may be an easier sell simply due to the dollar amount and there is no denying that open space reduces the need for public services, makes people happy, and in theory lasts for generations. The voter information handbook uses the phrase “in perpetuity.”
How can you argue against something that lasts forever? How can you vote against something you use everyday (roads)? Voters can and they might on November 4 due to the current economic crisis. With R.I.’s unemployment rate hovering near 8.5% and stock values plummeting, voters may simply have other, more pressing needs.
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