Question 1Bond (state borrowing)
College building bonds
Explain it like I'm 5
The state would borrow money to build and improve buildings at URI, Rhode Island College, and CCRI. It is like taking a long-term loan to fix classrooms and job-training spaces.
Yes vote
Rhode Island may issue up to $275 million in bonds for specified public higher-education facilities.
No vote
Rhode Island may not issue these bonds for the listed college projects.
The question to ask yourself
Are the expected education and workforce benefits worth borrowing for these specific projects?
The case for
- Modern facilities could expand health-care and workforce training.
- Long-lived buildings can serve students and employers for decades.
- Funding is assigned to projects at all three public institutions.
Backed by: Community College of Rhode Island, Rhode Islanders for Higher Education
The case against
- Borrowing adds debt and interest costs.
- The state or colleges might use existing funds or other financing.
- Construction projects can face delays and cost overruns.
Opposed by: House Minority Leader Michael Chippendale
- Money
- The official guide estimates $275 million in principal plus $166,333,250 in interest, for $441,333,250 over the bonds' life.
- Don't be misled
- Calling the measure a direct tuition cut is misleading, because it funds buildings and does not set tuition.