PROVIDENCE, R.I. — Rhode Island voters said yes to three of the five bond questions on Tuesday’s ballot, clearing $450 million in state borrowing, but they turned away two measures that would have sent money to projects in Providence.
Unofficial Board of Elections counts late Tuesday showed the $275 million higher education bond passing with 59.82 percent and the $120 million housing bond with 61.12 percent. The $55 million green economy question drew the strongest support at 66.92 percent.
The two losers were the $100 million economic development question, which failed with 52.47 percent voting no, and the $50 million cultural economy question, rejected by 50.79 percent.
Questions 3 and 4 together asked for $150 million, and backers from the business community had lined up behind them. Both defeats land close to home for the capital city. The economic development money was meant for site work at the I-195 District in Providence and at Quonset Business Park in North Kingstown. The cultural question would have spent $45 million building a State History Center facing the State House, with another $5 million in matching grants for local historic preservation.
It was the largest bond package ever placed before the state’s voters, and the first time since 2006 that any bond question failed. That year voters said no to $4 million for Fort Adams in Newport.
Passing a bond does not mean the money is borrowed right away. The state sells general obligation bonds over time and pays them back, with interest, out of future budgets. Using 5 percent interest over 20 years, state voter guides put the cost of the three approved measures near $722 million, compared with about $963 million had all five passed.
The higher education measure is the biggest win for the region, with money headed to URI, the Community College of Rhode Island and Rhode Island College in Providence, where the Adams Library is slated for renovation.
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