Worries about the cost of rebuilding a state battered by Hurricane Sandy did not scare New Jersey voters away from approving $750 million in borrowing for the state’s colleges and universities Tuesday.
With 93 percent of precincts reporting, the higher education bond question won the approval of more than 62 percent of voters. More than 83 percent favored a second ballot question that will allow lawmakers to force judges to pay more for their health and pension benefits.
The passage of the higher education bond question is a major victory for the state’s public and private colleges, which will use the money to build labs and classroom space. It will be the first time New Jersey has borrowed for college construction projects in 24 years.
"The voters have demonstrated what families across New Jersey already know, that investing in higher education is possibly the single-most important thing that we can do to assure that our children have a future that is full of opportunity, promise and potential," said Robert Barchi, the new president of Rutgers.