Monday, December 12, 2005

Question #1

Tomorrow Arkansans go to the polls to vote on two bond proposals. The proposal that has been generating controversy is Question #1. This proposal would give the Highway Commission power to issue bonds up to $575 million without the vote of Arkansans. The bonds would be paid from a 4 cent diesel tax that is currently collected.
I will be voting NO on this proposal. One reason: there is no limit on how many years the Commission would have the authority to issue bonds. I think there should be a limit of something like 5-10 years. At the end of bond issuing term they can bring it back to the people of Arkansas to renew their authority if they feel the need. I think a suggestion like this would eliminate the biggest issue about Question #1.

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