
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, April 25, 1990                   TAG: 9004250554
SECTION: EDITORIAL                    PAGE: A-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

TRADITION/ BOND ISSUE MERITS VOTER APPROVAL

NOT ONLY will Roanoke City voters on Tuesday elect three councilmen. They'll also decide the fate of a proposed $15.2-million general-obligation bond issue.

This proposal, which has drawn no formal opposition, meets three fundamental criteria for a sound and sensible bond issue.

First, it is affordable. The city's credit rating is excellent, and its debt is low relative to its tax base. Passage of the bond issue is not expected to raise taxes.

Second, the proposal is for long-term capital improvements that are better funded by bonds than by current operating funds. It's fairer to pay for such projects over the length of their useful lives than to stick the taxpayers of the moment with the entire tab.

Third, the proposal is for items of demonstrable need and desirability.

Nearly half the money - about $7.5 million - is to ease storm-drainage and flood problems in the Peters Creek area ($4 million), in Statesman Industrial Park ($2.7 million) and on Luck Avenue in downtown ($860,000).

Some $4 million is for improvements to school buildings, mostly for asbestos removal ($3 million) but also for replacement of heating systems and other renovations.

A relatively small amount ($150,000) is for the city's share of road The proposal is for long-term capital improvements that are better funded by bonds than by current operating funds. improvements to be financed mainly with state and federal tax dollars.

All of these projects are worth funding.

Perhaps the highest-profile item, however, is $3.5 million to renovate the old Jefferson High School. Renovating the building, empty and deteriorating since 1979, would ensure the future of a landmark of personal interest to many Roanokers.

But it also (1) would provide space for the performing arts and for community-service agencies, (2) could become an anchor for the west side of downtown Roanoke and (3) would allow the city to make use of $2 million in private money that the project's supporters have agreed to raise.

Roanoke voters have a tradition of approving municipal bond issues. On Tuesday, the tradition should be continued.

by CNB