Oklahoma capital improvement needs approaching $1 billion
NewsOK
BY SEAN MURPHY
Published: October 25, 2011
With a crumbling state Capitol, a run-down headquarters for the state Veterans Affairs Department and a medical examiner's office so cramped and outdated it lost its national accreditation, lawmakers say Oklahoma's list of capital improvement needs is approaching $1 billion.
But even with the state's solid bond rating and moderate debt-to-revenue ratios, conservative lawmakers, particularly in the House, are not eager to embrace a state bond issue to fund many of the repairs and new construction projects that some say are desperately needed.
“There's a reason that you've seen the number of approved bond issuances drop off in the last few years,” said Rep. Jason Murphey, R-Guthrie, who considers himself among those with a strong distaste for taking on additional taxpayer-backed debt. “Especially with all the freshmen elected in 2010 — voting for indebtedness isn't politically acceptable in a lot of areas in Oklahoma now.”
The Senate has been more eager to support the idea of issuing bonds for various projects... FULL ARTICLE
Posted on
Tue, October 25, 2011
by John Cox