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Senate debates higher-education revenue bonds as bill advances to third-reading calendar
Summary
Senate Bill 25, authorizing colleges to issue revenue bonds for projects funded by non-tax sources, advanced to the third-reading calendar after extended debate about long-term operating-and-maintenance costs, revenue assumptions and committee oversight.
Senators on Tuesday moved Senate Bill 25, a measure authorizing higher-education institutions to issue revenue bonds for projects financed by non-tax sources, onto the third-reading calendar after extended floor debate about who will pay future operating-and-maintenance costs.
Senator Bueller, sponsor of the bill, said the measure provides the legislature's authorization for institutions to issue revenue bonds for projects funded through grants, research contracts, donations or ticket revenues — not by direct state tax dollars. "This is for projects that are financed by other than tax dollars," Bueller said, adding examples including stadium renovations and research facilities.
The bill prompted sustained questioning from…
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