Bond issue planned for state universities

[Patrick]

Henry is looking at just another way to continue to improve education in our state. I hope he's succesful in getting this passed.

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"Governor, legislative leaders back $500 million bond issue
by Associated Press

1/4/2005

OKLAHOMA CITY (AP) - Gov. Brad Henry and legislative leaders from both parties say they support a proposed $500 million bond issue that will pay for capital improvements at every college and university in the state.
State regents and college presidents have agreed on the projects to include in the proposal, but Henry said he hopes the bond issue doesn't get tangled in politics.

"I am very concerned that the bond issue not get caught up in pork-barrel projects," Henry said.

Henry is expected to propose the bond issue to the Legislature before the upcoming session begins Feb. 7.

Because the state's higher education leaders agree on the proposal, Senate President Pro Tem Cal Hobson said he sees no need to change it, but added that lawmakers will take a close look at each project.

"From what I've seen so far, it's a very wise package of investments," the Lexington Democrat said.

Hobson wants to pass the package in February so architects and engineers can start on the construction, maintenance and renovation projects immediately. Low interest rates provide another incentive to move quickly before rates go up, he said.

But state Rep. Tad Jones, R-Claremore, said lawmakers are in no hurry to pass the bond proposal immediately.

"We'll get it done during the session, but we're going to take our time with it and get it right," said Jones, who is the new chairman of the Education Subcommittee of the House Appropriations and Budget Committee.

House Speaker-elect Todd Hiett, R-Kellyville, said he would consider how the state would pay for the bond issue and what the return on the investment would be before making a decision.

Henry said proceeds from a new state lottery could pay the cost. Forty-five percent of the net lottery proceeds are designated for higher education.

Debt service on a $500 million bond issue could run $33 million to $35 million a year, said State Bond Adviser Jim Joseph.

The Office of State Finance is projecting $62.3 million will go into the Oklahoma Education Lottery Trust Fund for fiscal year 2006, based on the lottery starting in October 2005.

Henry called it "the perfect revenue source."

Henry and Hobson said taxes would not be raised to pay for the bond issue.

The last higher education bond issue was in 1992. "

[Midtowner]

I'd like to see how it will be divided up. I think regional schools, especially UCO, really need a financial shot in the arm. OU and OSU seem to be doing just fine as their schools have historically produced excellent donors.

If Boren has been able to secure over 1 billion dollars of donations in his tenure, you have to ask, do they really need more money when UCO currently spends less than half the money per student that OU does and for many undergrad degrees is recognized to be a superior school?

[Patrick]

I agree...I hope more money per student is given to the regional universities. They are in greater need of the money than the state's two largest universities, which both have good fundraising capabilities.

[Midtowner]

I agree...I hope more money per student is given to the regional universities. They are in greater need of the money than the state's two largest universities, which both have good fundraising capabilities.

It is my hope that UCO's Old North is refurbished with some of this bond money. That's a building that I think we can ill-afford to lose or allow to fall into further disrepair.

[metro]

I agree

[Patrick]

Didn't UCO just get finished spending a few mill to refurbish Old North? The project started before I graduated in 2002....I'm guessing they finished it by now? THey replaced the roof, windows, rebuilt a section of it, etc.

[Midtowner]

Didn't UCO just get finished spending a few mill to refurbish Old North? The project started before I graduated in 2002....I'm guessing they finished it by now? THey replaced the roof, windows, rebuilt a section of it, etc.

That'd be the exterior of Old North. Back when I was working at the UCO News Station, I did several stories on the Old North rennovation

The thing about the building is that it's on the National Register of Historical Buildings. That poses a problem when restoring because everything has to be done using the same craftsmanship and materials as the original.

Here's the deal: When they were replacing the roof, they discovered some disturbing things. Entire support beams were cut in half up there. The building was deemed unfit for use. The current estimates at repairing the building are in the millions of dollars.

Now, I can personally report that back in '02 I saw President Webb giving Istook and some other suits a tour of the area, so I know that they are lobbying to restore the building.

So yes, Patrick, "Phase I" of the restoration is complete. That was the exterior. Now, they get to focus on the interior.

That building has some awesome history. I spent a lot of time in the library researching it. If you're ever up there, just ask one of the people in the archives to tell you about it. They're very knowledgable.

[Patrick]

Hmmmm....interesting. Thanks for the info. on Old North, Midtowner! I remember the story about the structural problems. Unfortunately, I didn't realize the cost to repair the structure would be that high. That's a shame.

Last time I was on campus, I notice that they demolished the old President's House on University Dr......when did that happen? I know they said it had structural problems as well.

[Midtowner]

Hmmmm....interesting. Thanks for the info. on Old North, Midtowner! I remember the story about the structural problems. Unfortunately, I didn't realize the cost to repair the structure would be that high. That's a shame.

Last time I was on campus, I notice that they demolished the old President's House on University Dr......when did that happen? I know they said it had structural problems as well.

Hmm. I never noticed that.

The President now resides at that really large house on Boulevard. Can't remember the cross streat.

The old President's house used to house the curiculum office.

One thing I know -- that school really needs more $ if it wants to give its 16,000+ students a fair shake compared to other state schools. They have done an amazing job doing more with less, but the facilities can only last so long.

[Patrick]

With as large as UCO is becoming, they need to stop treating it as a regional university, and reclassify it as major university like OU and OSU. In regards to sports, the need to at least move up to NCAA1-AA.

[mranderson]

I agree that OU and OSU should not share in the proceeds since OU bought their money man and OSU has people like Boone Pickens.

The bulk should go to the smaller Universities and the community colleges. Oklahoma City Community College is one of the largest community colleges (by enrollement) in the United States. It should get a lot of funding from this.

[Midtowner]

With as large as UCO is becoming, they need to stop treating it as a regional university, and reclassify it as major university like OU and OSU. In regards to sports, the need to at least move up to NCAA1-AA.

Believe it or not, that is a goal of the administration. There are plans (just waiting for the money to make it possible) to make some major expansions to Wantland field.

The thing about D-IAA football is that there are attendance requirements. I went to most of the home games this year. Our biggest crowd was for homecoming, and that was only around 6,000 people -- not really impresive. Also, another thing that will make it expensive is travel. There aren't many D-IAA teams close to UCO. I know it's a goal, but I'm not sure how far off it is.

As far as Basketball and wrestling, I think we could compete at a Division I level.

Of course, that's sports.

UCO also needs to upgrade its academic programs. As good as the school of education is, I find it puzzling that they do not yet have a doctorate program available in that department. I'd like to see them start offering some doctoral programs.

Webb has done an excellent job in redifining the school as a real university, and not just another Rose State. I think that perception is less and less that it is a "Commuter College". I certainly observed that attitute change while I was attending there, and continue to see that as I still maintain plenty of contacts over there.

[Patrick]

I agree Midtowner....seems like with the emphasis UCO has on education, and the number of teachers they graduate every year, they'd have a doctoral program.