More than 200 projects that will receive funding if voters approve the Transportation Bond Act on the ballot tomorrow, but for most, their share of the $2.9 billion bond is seed money.

The question for voters Tuesday, and the fault line that divides the bond act’s supporters from its detractors, is whether $2.9 billion in debt is too great a financial risk for projects whose future funding is uncertain.

The partially funded projects range from $450 million for the $16 billion Second Avenue subway to $700,000 of a $2.3 million project to reconstruct portions of a road in the village of Canajoharie, a historic canal town about 50 miles west of Albany that plans to spend part of the money to restore one of the state’s oldest traffic lights.

Some of the projects will receive federal funding, others are contingent on local funds, but for many of the projects, additional local or federal funds will still not balance the ledger, raising the ire of critics like the state Conservative Party chairman, Michael Long.

“A homeowner might take out an equity loan to redo their bathroom, but they don’t take out the equity loan to renovate the bathroom and then spread the money around to do a new bedroom and kitchen and not complete any of it,” Mr. Long said. “This is a bond act that clearly drives up taxes and increases spending for projects that will not be completed.”

Even transportation experts concede that certain projects, like a rail link to John F. Kennedy Airport that has little priority at the Metropolitan Transportation Authority but is favored by Governor Pataki, have little chance of getting built, despite $100 million earmarked for JFK Airport in the bond act. The cost of a rail link is largely unknown and its designs are in the beginning stages.

A Democratic congressman representing Manhattan and Brooklyn, Jerrold Nadler, who is a vocal supporter of the bond but a critic of the rail link, told The New York Sun that unused money could be transferred with the blessing of legislators and the governor to projects whose costs and designs, like that of the Second Avenue subway, are well-defined.

“Nothing you do over multiyear periods is ever set in stone,” Mr. Nadler said. “But the other projects are much more clearly defined and have large parts of their funding identified.”

The $450 million earmarked each for the Second Avenue subway and an extension of the Long Island Rail Road to Grand Central Terminal, called East Side Access, will serve as down payments.

The $6.2 billion East Side Access project will be nearly fully funded if the bond act passes and federal subsidies kick in. The remaining $1 billion would likely be budgeted for in the 2010 capital plan of the MTA.

Funding for the Second Avenue subway, which will be built in four phases totaling about $16 billion, is uncertain beyond the completion of its first phase, a $3.8 billion project to build a line from 96th to 63rd streets, where it will connect with the F line. The bond act’s approval, along with about $1.5 billion in federal matching funds, will leave $500 million to be funded through the MTA’s capital plan in 2010.

“The brilliance of having a first operable phase is even if you don’t get enough money to finish it, you still have an operable segment of the system,” a spokesman for the Regional Plan Association, Jeremy Soffin, said.

The bond act’s proponents say that if the measure passes, $30 million will be spent for cameras to monitor traffic and signs to notify motorists of delays on the FDR Drive. And $23.3 million would go toward repaving part of the Henry Hudson Parkway.

“Passing the bond act will send a signal to state and federal governments that voters want these projects to go forward,” the Democratic candidate for president of Manhattan, Scott Stringer, said. Passing the bond act would make the fund-raising job of the city’s congressional delegation “much easier,” he said.