State agency bond plan includes WKU Honors College & International Center
|Date: Thursday, January 10th, 2013||Return|
Gov. Steve Beshear, joined by a bipartisan group of legislative leaders and state university presidents, announced a plan Thursday (Jan. 10) to approve the issuance of bonds by Kentucky’s public universities for campus improvements supported by university revenues.
These agency bonds will be issued by the individual universities over the coming months and will allow the schools to fund critical renovation or construction projects at no cost to Kentucky taxpayers. The projects include $22 million for the construction of an Honors College and International Center at WKU. (View a concept drawing.)
Gov. Beshear and the lawmakers plan to authorize $363.3 million in agency bonds, which will have an estimated economic impact of nearly $623 million and support 5,110 jobs. A bill will be filed soon to authorize the bonds.
“Agency bonds will meet the growing needs of our universities with no impact on the General Fund, as they will be paid for through existing revenue streams such as student fees and athletic revenues,” said Gov. Beshear. “I appreciate the universities’ continued good stewardship during these tough economic times. At a time when we are pushing our students to pursue higher education, it’s imperative that they have adequate classrooms, housing and facilities, and the issuance of these bonds will accelerate those projects to meet those needs quickly.”
General Fund support for the universities has been cut 15 percent over the last three biennial budgets. Universities need the authority to utilize other revenues to maximize student opportunities, including needed facilities that may be built or improved without general fund revenues from the state. The bonds were proposed in the last legislative session but were not authorized. No new fees are proposed to support the bonds.
Kentucky’s eight university presidents are united in support of the plan, noting that accelerating these long-delayed projects will save money in construction costs and avoid additional cost burdens for students. Each school enjoys strong bond ratings, and the schools will be able to guarantee the bonds through existing revenue streams at a reasonable cost.
“The Council on Postsecondary Education and Kentucky’s public universities are very grateful for the support of the Governor and legislative leaders for these projects,” said Council on Postsecondary Education President Bob King. “We also appreciate the confidence this action expresses in the judgment and leadership our campus presidents demonstrate in meeting the needs of our students, faculty and staff.”
The proposal includes 11 construction projects at six institutions that are ready to be financed and will move forward as soon as authorization is given by the General Assembly. Several projects will address outdated or inadequate student housing; others will improve existing classroom spaces. University presidents said these projects will provide a safer experience for students and faculty, improve campus quality of life, and avoid additional cost burdens for students.
“These 11 projects represent critical needs across our campuses,” said WKU President Gary A. Ransdell. “All 11 have dedicated revenue streams that we generate at the universities, and all projects are shovel-ready, meaning they will be underway in the current biennium. The ability to make progress on these projects now is critical for higher education, and we are grateful for the leadership and support of Governor Beshear and House and Senate leaders who have all worked together to make this possible.”
Contact: Kerri Richardson or Terry Sebastian, (502) 564-2611.
- All Categories
- CHHS October 2011 E-Newsletter
- CHHS November 2011 E-Newsletter
- CHHS December 2011 E-Newsletter
- CHHS January 2012 E-Newsletter
- CHHS February 2012 E-Newsletter
- CHHS March 2012 E-Newsletter
- CHHS April 2012 E-Newsletter
- CHHS May 2012 E-Newsletter
- CHHS June 2012 E-Newsletter
- CHHS July 2012 E-Newsletter
- CHHS August 2012 E-Newsletter
- CHHS September 2012 E-Newsletter
- CHHS October 2012 E-Newsletter
- CHHS November 2012 E-Newsletter
- CHHS December 2012 E-Newsletter
- CHHS January 2013 E-Newsletter
- CHHS February 2013 E-Newsletter
- CHHS March 2013 E-Newsletter
- CHHS April 2013 E-Newsletter
- CHHS May/June 2013 E-Newsletter
- CHHS July 2013 E-Newsletter
- Archived CHHS News
- CHHS October 2013 E-Newsletter
- CHHS November 2013 E-Newsletter
- CHHS December 2013 E-Newsletter
- CHHS February 2014 E-Newsletter
- CHHS November 2014 E-Newsletter
- CHHS May 2014 E-Newsletter
- CHHS April 2014 E-Newsletter
- CHHS June 2014 E-Newsletter
- CHHS July 2014 E-Newsletter
- CHHS August 2014 E-Newsletter
- CHHS September 2014 E-Newsletter
- CHHS October 2014 E-Newsletter
- CHHS September 2011 E-Newsletter
- CHHS August 2011 E-Newsletter
- CHHS July 2011 E-Newsletter
- CHHS June 2011 E-Newsletter
- CHHS May 2011 E-Newsletter
November 26th -November 30th
November 26th - November 30th
Forty parents, educators, counselors, and administrators came to Bowling Green November 5 to hear a leading authority on twice-exceptional education at the 2014 Twice-Exceptional (2e) Learners Seminar.
download Adobe Acrobat Reader.
Note: documents in Excel format (XLS) require Microsoft Viewer,
Note: documents in Word format (DOC) require Microsoft Viewer,
Note: documents in Powerpoint format (PPT) require Microsoft Viewer,
Note: documents in Quicktime Movie format [MOV] require Apple Quicktime,