Newspaper article THE JOURNAL RECORD

Capital Bond Issue Gains Momentum

Newspaper article THE JOURNAL RECORD

Capital Bond Issue Gains Momentum

Article excerpt

Word of a possible capital bond issue, which has waxed and waned all during the 1998 legislative session, is gaining momentum once again with circulation of a $1.2 billion list of capital funding requests at the State Capitol.

The list includes most of the projects outlined before a special joint legislative panel last year and this spring.

Word is that if a bond issue is forthcoming, it may not total more than $350 million or so. However, by Monday in some quarters the touted figure was as small as $200 million. And no decision has reportedly yet been reached as to whether the securities issued should be general obligation bonds or revenue bonds. Some $10 million was set aside for a capital bond issue that did not materialize last year, and another $7 million may be available this session. Officials have said this level of funding could support a bond issue of about $300 million. Gov. Frank Keating said recently that he would support a bond issue to address some of the state's most critical capital needs, and the Senate leadership has expressed support for the idea as well. Support in the House is softer. House Speaker Loyd Benson, D-Frederick, said it would be difficult to fund a bond issue if any tax cuts are to be enacted this year. Asked Monday about the possibility of a capital bond issue with only eight days remaining in the session, Rep. Jim Hamilton, D- Poteau, who chairs the General Conference Committee on Appropriations this year, was not hopeful. "I would doubt if we'll have one," Hamilton said when asked to gauge the chance of a bond issue at this stage of the legislative game. "It's barely breathing. I would say it's on life support at this point." Of the $1.2 billion total in requests, among the most-discussed projects and areas of need are the following: * Moving the Oklahoma Supreme Court and certain other court offices to the Wiley Post Building, which now houses the Oklahoma Historical Society: $20.8 million. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.