Texas Proposition 4 (2007)
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Proposition 4 would authorize $1 billion in general operating bonds to be issued for maintenance, repair and construction projects.
Proposition 4 appeared on the statewide November 2007 ballot in Texas along with fifteen other statewide propositions; all of them passed. All sixteen ballot measures were legislative referrals voted onto the ballot by the Texas State Legislature.
Overview
Because the Texas Constitution, Art. 3, Sec. 49 prohibits state debt, state bonds are generally issued to finance state projects. The Texas Finance Authority (TPFA) is the agency responsible for distributing the bonds. Currently the TPFA can only issue up to a max of $850 million in bonds, Proposition 4 would increase that to $1 billion.[1]
Republican State Senator, Steve Ogden has also voiced his support of the measure saying, "This capital investment pays for important infrastructure, buildings, utilities and maintenance that are desperately needed across the state."[2]
Opposition in the community
Scott Henson, from the gritsforbreakfast blog, said:
"It may be one place where Texas voters should tell their legislature, sorry, but no. Please go back to the drawing board — and if you want to build new prisons, be honest about it. Don’t sugar-coat it by lumping it into a catch-all bond proposal."[3]
and the Texas Criminal Justice Coalition has also opposed Proposition 4. Ana Yanez-Correa, head of the coalition said, "If we're really serious about meeting public safety needs -- about meeting Texas' needs in general, let's not rely on debt."[4]
A Taxpayer's Perspective from the National Taxpayers Union
Proposition 4 would devote $1 billion in new bonded debt toward construction projects and equipment.
Election results
The initiative passed with 622,785 voting for it (58%) and 447,323 voting against it (42%).
See also
External links
- Proposition 4 language
- Texas House Research Organization, Constitutional Amendments Report
- Bond proposals on November 6 ballot run the gamut Houston Chronicle
- Overview of organizations opposing Prop 4
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