Title
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF JONESBORO SUPPORTING THE PASSAGE OF THE 2011 INTERSTATE REHABILITATION PROGRAM
Body
WHEREAS, in 1999, Arkansans voted overwhelmingly, by a 4-to-1 margin, for the adoption of an Interstate Rehabilitation Program; and
WHEREAS, the Interstate Rehabilitation Program was financed through federally funded GARVEE Bonds and a 4¢ state diesel tax passed for that purpose; and
WHEREAS, the Interstate Rehabilitation Program modernized over 350 miles of Interstate highways in Arkansas; and
WHEREAS, Arkansas now has over 650 miles of Interstates, with more re-construction and modernization left to be completed, thus finishing the job started by the 1999 program; and
WHEREAS, a new Interstate Rehabilitation Program ballot issue will be placed on a special election ballot, Tuesday, November 8, 2011; and
WHEREAS, Arkansas voters at the special election must approve and authorize the Arkansas Highway Commission to issue a new round of GARVEE Bonds for the purpose of financing a 2011 Interstate Rehabilitation Program designed to address the immediate needs of nearly 300 miles of Interstates; and
WHEREAS, the issuance of GARVEE Bonds will not require any new taxes, or any increase in existing taxes, but will be funded by future federal revenue and the existing 4¢ state diesel tax; and
WHEREAS, all of Arkansas will benefit from the 2011 Interstate Rehabilitation Program because the Interstate Rehabilitation Program because the Interstate system makes up the backbone of the state’s road and highway network; and
WHEREAS, the 2011 Interstate Rehabilitation Program will meet the needs of nearly $1 billion in Interstate rehabilitation, creating over 27,000 jobs, and freeing other revenue for local state highway maintenance, all without raising taxes; and
WHEREAS, modern Interstates will increase Arkansas’s opportunity for more economic development from business, industry and tourism; and
NOW THEREFORE BE IT RESOLVED BY THE C...
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