Several important proposed amendments to the Alabama
Constitution will be included on next Tuesday's voting ballot.
The well-respected and nonpartisan Public Affairs Research Council
of Alabama (PARCA) at Samford University has produced a helpful
analysis of each amendment that we hope our readers will find
useful, especially if they are registered voters. Perhaps the most
critical amendment, in our opinion, is Amendment 2, which would
allow the State of Alabama to refinance existing general obligation
bonds in order to achieve lower debt service costs and to issue new
bonds that would benefit from lower interest rates, all for the
purpose of Alabama's economic development. The existing $750
million cap would not be increased, however. Refinancing existing
bonds will save the state almost $30 million in interest expense,
with potential for increased savings. Governor Bentley has
championed this amendment in recent TV ads, and has stated that
Amendment 2 allows "the
