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PrintA $700 million university bond is awaiting approval in the Missouri Senate, after passing 131-28 in the House earlier this week.
Under the proposal, MU would receive $81 million for facilities associated with its campus.
This bond comes after Gov. Jay Nixon suspended $51.2 million in funding for MU, saying the Missouri Higher Education Loan Authority was in too dire financial straits to sell assets to provide the funding.
If the Missouri Senate passes the bill, it would require Missouri voters' approval.
Opponents say this is not the right time for the General Assembly to be issuing checks, further increasing the state's debt, while those who support the bill say the state should take advantage of the era's low interest rates and consider the benefits of job creation.
Bond supporter Rep. Jeff Roorda, D-Barnhart, added that the state broke a promise with residents when it failed to fund university construction projects using loan authority assets.
"We wouldn't be here today indebting the state for $700 million if it weren't for a wayward scheme of asset sales," he said.
Should the state go into more debt to rectify Nixon's suspension in Missouri Higher Education Loan Authority funding?
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Comments
Perhaps the most interesting feature is the need for voter approval. Exactly how DO voters feel about this issue? Are we certain what their preference will be?
Only if not a single penny goes to any type of a sports program and it all actually goes into education and every single penny is accounted for.
The main problem I see with any of these Stimuli moneys is that the Administration costs suck up far too much.