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Virginians will vote Nov. 8 on five bond issues totaling $125 million as well as for a new Governor, Lieutenant Governor and Attorney General.
Five separate questions will be on the ballot with space for a “yes” or “no” answer for each question. Each question seeks funding for construction or renovation of certain state facilities.
Before the state may borrow money for such capital projects, the Virginia Constitution requires that the debt be approved by a majority of those voting on the questions.
A majority vote on each question Nov. 8 determines whether or not the state may borrow $86,475,000 for educational institutions; $21,525,000 for correctional facilities; $4,000,000 for mental health facilities; $5,000,000 for park and recreational facilities; and $8,000,000 for port facilities.
TTie five bond issues were approved by the 1977 session of the Virginia General Assembly. The VirginiaConstitutionlimits the state’s total debt, as well as the amount that can be borrowed at any one time, by a formula based on income and retail sales taxes. The state could currently borrow a maximum of $294 million. Virginia’s present debt is about $41 million, which is the amount still due on the $81
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