The memorandum of understanding states that if the bond issue does not pass, the memorandum shall be null and void.
Voters have a difficult decision.
The bond issue will create further debt for a state with a bond rating that is 49th in the nation, though the increase is a small proportion of the total debt. And since the memorandum of understanding is not legally enforceable, even the comprehensive list of projects set forth may not be the ones finally undertaken. On the other hand, there is a great need to update the state's transportation infrastructure. Many facilities are either in disre-pair, or will fall into disrepair if substantial capital is not invested in them. New York City residents have a particular, well-justified interest in seeing that the MTA system is adequately maintained.