Supporters of a proposal to dramatically limit government’s ability to construct new buildings have collected enough voter signatures to get it on the ballot.
The secretary of state announced Friday that the proposal, to be known as Amendment 62, has been certified. The measure would prevent governments from using certificates of participation, financial instruments that essentially are leaseback arrangements where the state can buy back the buildings it constructs over years of payments.
The state, which is prohibited from bonding, commonly uses certificates of participation to construct new buildings on college campuses and for a host of other capital-improvement projects.
Critics say the measure would make it highly difficult for the state to do construction projects.
