Issue 3 Gives Government “Bigger Stick” for Imminent Domain
Issue 3 is complex. It’s difficult to tease out all the negatives (and there are many), but imminent domain is another compelling reason to vote “NO” on this “Job Creation, Job Expansion, and Economic Development” proposal.
Do you want to give your government a bigger stick when it comes to abolishing your right to own private property?
Under Issue 3, the money your government borrows on your behalf (and that you, the taxpayer, must repay) can be used to purchase land — or to fund litigation on its behalf to condemn private land (imminent domain) for pretty much whatever it deems to be “economic development.”
How so? Specifically, Issue 3 allows cities, counties, and school districts unlimited borrowing power to issue bonds for “economic development” (as defined in the measure).
Further, Issue 3 replaces current Constitutional law that defines “industrial development” projects with specifics about “economic development” projects the state of Arkansas and your city/county/school district would be authorized to finance through privately sold bonds (current law requires public sale).
These “economic development projects” are specified as “land, buildings, furnishings, equipment, facilities, infrastructure and improvements” for facilities for
♦ research, technology and development
♦ distribution centers
♦ call centers
♦ job training, and
♦ regional/national corporate headquarters.
Issue 3 is a bad bill because it gives government and school districts way too much power to incur an unlimited amount of debt on taxpayers’ behalf for projects with organizations and companies hand-picked by elected officials. Giving the government and school districts a bigger stick to use imminent domain to complete those “economic development” projects is just another reason to vote “NO” on Issue 3.