Governor Announces December 13 Vote for Highway and Higher Ed Bonds - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

Governor Announces December 13 Vote for Highway and Higher Ed Bonds

SEPTEMBER 19, 2005 - Posted at 2:52 p.m. CDT

 

LITTLE ROCK, AR - Governor Huckabee has set a special election for December 13 to extend the current highway construction bond issue and to add a bond program for higher education.

If voters approve the bonds, Huckabee says he anticipates calling a special legislative session in late December or January to dedicate money to the road and education programs.

The measures would not increase taxes but would continue current funding.

In the December election, voters would be asked to authorize the continuation of the roads plan, which would be financed by the same four-cent diesel tax increase approved six years ago.  They will separately be asked to renew a bond issue for colleges and universities that began in the late 1980s and is still being repaid with about $25 million annually in general revenues.

Voters in 1999 approved a five-year, $1 billion interstate highway reconstruction plan that is soon to expire.

The colleges would share in $250 million generated by the bonds.

The governor likened the package to the state refinancing a loan, taking money that's already being spent and restructuring payments so more can be accomplished.

(Copyright 2005 by The Associated Press.  All Rights Reserved.)

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