There is a real case for fixing crumbling infrastructure and building more housing, and bonds are an ordinary tool for it. But the heart of this amendment is that it lets counties borrow OUTSIDE their constitutional debt limit — and that is exactly the part a steward should slow down on. The borrower is servant to the lender, and a debt ceiling exists to keep government from quietly mortgaging the next generation's property taxes. Backers point to genuine needs; the Tax Foundation of Hawaii warns that taxpayers stay on the hook if the financed projects don't pay off as promised. Lean cautious here: a 'yes' is a vote to loosen a guardrail on public debt, so be sure you trust your county to use that room wisely before you grant it.
"The rich ruleth over the poor, and the borrower is servant to the lender."
— Proverbs 22:7 (KJV)