ATHENS, Ala. (WHNT) – Governor Robert Bentley says there’s a measure on the November 6th ballot that will help him fulfill a campaign promise to create jobs in Alabama. It’s the proposed Amendment number two. It would allow the state to sell additional bonds in order to provide financial incentives to lure new industry to the state.
Gov. Bentley describes the proposed Amendment Two as one of the more important items on the ballot. He says it will enable the state to continue to offer financial incentives to industrial prospects without increasing the state’s debt.
“The only thing that it does it redefines the amendment so that we can refinance some of those bonds at a lower interest rate, save 30 to 40 million dollars by doing that. And also if we pay off some of the bonds, and if we need to reissue those, at least for a period of time, we can do that,” Bentley explained. He says the measure would not increase the state’s bonded indebtedness, it remains capped at $750 million dollars. But as the existing bonds are paid off, the measure would allow the state to re-issue new bonds in their place, if needed, to help lure new industry.
“If we don’t have these incentives, we can not compete with other states. If we didn’t have incentives, we could not have gotten Wrangler to come back to Hackleburg. If we hadn’t had incentives we couldn’t have gotten Airbus to come to Mobile,” the governor said.
Bentley says many other states have this same provision in place and he feels it necessary that Alabamians approve the measure in order to remain competitive. It will be one of ten statewide constitutional amendments on the November general election ballot.