WKYT | Lexington, Kentucky | News

Lawmakers Approve Bill To Let Universities Sell Bonds

FRANKFORT, Ky. (AP) - Kentucky's public universities would have more say-so on funding campus projects under a bill approved by a House committee.

The measure approved Tuesday by a legislative panel would allow universities to sell bonds as long as lawmakers approved it.

State Representative Bob Damron who is sponsoring the bill says it is important for Kentucky's public universities.

Governor Steve Beshear has already imposed 3-percent budget cuts on universities and other state agencies to cope with a budget shortfall. Beshear says deeper funding cuts could come next year.

The legislation is House Bill 111.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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