From Deseret News archives:
Prop. 1 to add funds for Provo road work
Voters to decide whether to delay payoff of bond
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The 1986 bond was for $8 million. The city paid $3,126,440 in interest.
The 1995 extension was for $6.6 million. The city has paid $3,583,424 in interest and is scheduled to pay another $530,444 through 2009.
Both propositions passed easily. The '86 bond and tax increase passed with 62 percent of the vote. Voters approved the '95 extension in a landslide, 87 percent to 13 percent.
There has been little opposition this year, although mayoral candidate Dave Bailey has suggested that instead of a bond, the city should look at using some of the $65 million it has in reserves parked in the city's different budget categories.
Even if voters pass Proposition 1, work might not begin for a year.
"We might not spend much the first year because we'll be hoping prices come down," said Wayne Parker, the city's chief administrative officer. "We know the roads that will be targeted. We don't know if we'll get them all done. The cost of oil and the difficulty of ordering supplies is a problem because of Iraq."
The supply shortage has created other difficulties.
E-mail: twalch@desnews.com
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