Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 4 · column 2 of 6 · from the scan, no model involved
balanced budget every year. Gov. Godwin had to cut state expenditures by about $113.5 million in the last budget and $73 million in the current budget just to keep from ending up with a deficit.
Tax revenues at current levels of taxation are inadequate to finance the $125 million pricetag for urgently needed capital projects. Taxes would 'have to be raised to finance these" projects. Basically, Virginia is dbinfc what most homeowners do when they borrow money to buy or to build a home and then pay for it over a long period.
With the inflation rate in the construction industry projected to be almost twice as much as the interest Virginia probably would pay on the bonds, a building delay would add substantially to the cost. Some of the projects were approved by the General Assembly seven years ago, but there was no money for construction. Bonds will get the projects completed much faster, and will save Virginians money.
Vote “yes” for effective fiscal management in Virginia. Vote for the bonds.
94.2%