Beshear Announces Bonding Plan for University Projects, with No State Funding Attached

Jan 10, 2013

Gov. Steve Beshear and legislative leaders are pushing a plan to authorize $363 million worth of bonds for construction projects at six of the state's public universities.

The plan, announced Thursday morning in Frankfort, includes $22 million for a WKU international center and honor's college. The selling point, Beshear said, is that the projects will be paid for entirely by the universities. He stressed that no General Fund money would be used.

Republican Senate President Robert Stivers and Democratic House Speaker Greg Stumbo said they expect the proposal to be approved by the full Legislature.

The biggest expenditures called for in the legislation, which hasn't yet been filed, would be $110 million to renovate Commonwealth Stadium at the University of Kentucky and $100 million to construct a science building at UK that would be paid for partially from athletics revenue.