Gov. Mike Beebe has set Nov. 8 as the election date for a constitutional amendment that would continue Arkansas’ Garvee program.

If voters approve, the state would issue $575 million of bonds supported by a combination of federal highway grants and an existing state tax of 4 cents per gallon of diesel fuel.

The bond would have to be issued no later than Dec. 31, 2015.

The original program was approved by 79% of voters in 1999.

In calling for the election, Beebe stressed that the bonds would not require a tax increase.

Beebe said he called the special election to avoid the politics of the 2012 presidential election.

The State Highway Commission will begin the process of selecting a financial advisor at its meeting this week.

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