CA: Authorize bonds for public infrastructure capital improvement

This bill proposes adding a new section to the Ohio Constitution to allow the state to issue up to $2.5 billion in general obligation bonds for public infrastructure projects. The funds would be used to build or improve roads, bridges, water and wastewater systems, and waste disposal facilities for cities, counties, and townships. If approved by voters, the state could borrow money over ten years to finance these projects, with the full faith and credit of the state pledged to repay the debt. The legislation also specifies that the borrowed money must be used strictly for infrastructure and that the bonds would be exempt from state taxes.