by Max Brantley
If I read this Democrat-Gazette story this morning correctly, it means that Arkansas voters are going to be asked Nov. 8 to approve borrowing money that — at least in some cases — will redo road repairs that taxpayers haven't finished paying for from the last highway bond election.
This gives you another view of the touted "efficiency" of using bonds for road repairs, as opposed to paying as you go. Bonds, with the necessary interest, increase the cost of repairs. Those 1997 bonds aren't paid off yet. We're fortunate currently that interest rates are at historic lows.