Question 5: $88.5 million for transportation.Part of a series on statewide ballot questions

PROVIDENCE — Question 5 on the ballot, this election’s transportation bond issue, would allow borrowing $88.5 million for a variety of transportation projects ranging from roads and bridges to buses and bike paths.

The total cost of borrowing the money over 20 years would be much higher, $154 million, however, and some of the items would wear out before they were paid for.

The bond issue includes these elements:

•$80 million, mostly to match federal highway funds or to provide direct funding for

improvements to the state’s highways, roads and bridges;

•$7 million to match federal funds or to provide direct funding for commuter rail service

•$1.5 million to buy new buses or rehabilitate buses in the Rhode Island Public Transit Authority’s fleet.

The state Department of Transportation says the largest portion of the money would be used to match $394 million in federal funds for improvements to highways, roads and bridges over the next two years.

“Without an approval vote, none of this work will get done,” said James R. Capaldi, state transportation director. The state must have matching funds to get its federal funds and “bonding is the only way to accomplish this.”

“Our federal dollars will be given away to other states if we cannot match them,” Capaldi said.

The Construction Industries of Rhode Island, an industry group, supports the bond issue, which it says would generate more than 5,500 jobs.

Eighty percent of most major highway projects are paid for by the federal government, with the remaining 20 percent paid by the state. Rhode Island borrows its 20 percent share through bond issues, such as the one on the ballot this year, that go before voters every two years.

Capaldi said projects this time would include West Main Road in Middletown and Portsmouth, Fruit Hill Avenue in North Providence, Elmwood Avenue in Providence, Airport Road in Warwick and the Arctic circulator in West Warwick, along with bridge construction such as the Stillwater Bridge in Smithfield, the Conant Street Bridge in Pawtucket and the Henderson Bridge in Providence.

Capaldi said the money would also pay for engineering and land acquisition on larger projects such as the Gilbert Stuart Road turnaround on Route 1 in North Kingstown, the Apponaug Bypass in Warwick, the Natick Bridge in West Warwick and improvements to traffic circulation and the road surface in downtown Providence.

The commuter rail money would build the Wickford Junction train station.

Although the DOT describes the measure as involving $88.5 million, the real cost of the borrowing is higher because of the interest and costs of issuing the bonds — a total of $154 million, according to the secretary of state’s explanation of the referendum questions. That includes $354,000 in the fees and other costs of issuing the bonds, plus $65.8 million in interest.

Some of the things the borrowed money would buy could wear out before all of the borrowed money is paid back, over 20 years, according to the secretary of state’s explanation.

For example, the DOT estimates that the useful life of highway, road and bridge improvements will range from about 10 to 30 years, depending on the kind of improvements.

The DOT estimates that the useful life of the commuter rail facilities will be longer — 10 to 30 years.

But RIPTA estimates that the useful life of the buses that would be purchased or rehabilitated at 10 to 12 years, several years less than the time needed to pay back the money.