jay blanton

"see transformation." Kentucky Governor Steve Beshear Signs House Bill 7 Into Law

Published: Feb 21, 2013

 

 

FRANKFORT, Ky. (Feb. 21, 2013) – Governor Steve Beshear – joined by UK President Eli Capilouto and state legislative leaders – signed into law House Bill 7 today.

 

The legislation, which received broad bipartisan support, authorizes the University of Kentucky to move forward with $275 million in self-financed projects that will help accelerate the transformation of Kentucky’s flagship campus.

 

In all, 11 major construction projects at six state universities, including dormitory renovations, new student centers, and athletic facility improvements will soon be underway thanks to the quick passage of a bill that allows the schools to issue bonds for project financing – all at no cost to Kentucky taxpayers.

 

In total, the law authorizes $363.3 million in agency bonds by Kentucky’s public universities for campus improvements supported by university revenues. 

 

The bonds will have an estimated economic impact of nearly $623 million and will support 5,110 jobs.  Each university will issue the bonds over the coming months.

 

“Because of our universities’ continued good stewardship during tough financial times, approving the use of agency bonds makes good sense for our schools and for our taxpayers,” said Gov. Beshear. “The bonds will meet the growing needs of our universities with no impact on the General Fund, as they will be paid for through existing revenue streams such as student fees and athletic revenues.  Our students need adequate classrooms, housing and facilities, and the issuance of these bonds will accelerate those projects.”

 

The University of Kentucky plans to issue bonds for three separate projects, and will utilize athletic revenues to help pay for construction of an academic building, which is a first for a Kentucky university.  Athletics will fund $65 million of a $100 million, 263,000-square-foot Academic Science Building, where Donovan Residence Hall currently sits. The current Chemistry-Physics Building is the second most used facility on campus, but is not equipped with modern or technology-rich classroom and laboratory space. Private fund-raising efforts also will be utilized.

 

“With their strong show of faith in the creative approach we are taking to funding our future, Governor Beshear and our legislature have signaled support not only for three building projects, but for the University of Kentucky’s pivotal role in helping create a brighter tomorrow for our Commonwealth,” said UK President Eli Capilouto. “We will honor their support by using this investment to earn our way forward so that we educate even more of tomorrow’s leaders and extend groundbreaking discoveries in ways that enhance communities across Kentucky.”

 

Legislators who supported the new law were effusive in praising the bipartisan support and the creative approach being taken by universities:

 

"House Bill 7 is a wonderful example of how bipartisan governing should work. The bill is a result of consensus and will benefit both higher education and taxpayers,” said Senate President Robert Stivers.

 

“House Bill 7 shows what can happen when we all come together to move Kentucky forward,” said House Speaker Greg Stumbo. “These projects will go a long way to modernizing our public universities, and I want to thank Gov. Beshear and the college presidents for their work in helping to make this possible.”

 

“I was proud to sponsor House Bill 7 and work alongside Gov. Beshear, Kentucky’s college presidents, and my colleagues in the House and Senate to get this passed as quickly as we did,” said Rep. Rick Rand, of Bedford. “This will help our students, and provide some much needed job development and growth.”

 

Read more about the projects at: www.BBNunited.com; Follow @BBNunited on Twitter; Like BBNunited on Facebook at www.Facebook.com/BBNUnited

 

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April
 
 
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UK Baseball vs. Louisville
Kentucky Children's Garden Spring Break Special!
Pinterest Party #2
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LNFS presents Ferris Bueller's Day Off
Men's Tennis vs. Illinois
UK Softball vs. Louisville
UK Men's Tennis vs. Northern Kentucky
Kentucky Children's Garden Spring Break Special!
Student Health Advisory Council Meeting
Best Practices for Tree Planting and Establishment Class 2
Selecting the Right Tree for Your Landscape Class 1
#TrendingTopics: It's Not Easy Being Green
Wed
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UK Toastmasters
Kentucky Children's Garden Spring Break Special!
Thu
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UK Softball vs. Texas A&M
UK Baseball vs. Florida
Kentucky Children's Garden Spring Break Special!
Creoles Topopholia
Religion & Politics in Anxious States
Exploring, Remixing, Analyzing: Teaching History with Digital Media
Cormac O'Grada - "The Nature of Famines"
"The Nature of Famines," Committee on Social Theory Public Lecture
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UK Baseball vs. Florida
UK Softball vs. Texas A&M
Bluegrass Bazaar
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UK Softball vs. Texas A&M
Ride the Legacy
UK Men's Tennis vs. Vanderbilt
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Job Club: Research Your Target Organization Before the Interview: What to Know and How to Find Out
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Dine. Discover. Decide.: Connecting students to alumni in 3D!
Earth Days in the Bluegrass and the Late Night Film Series Present: Gasland Part II, A Bike-In Movie
UK Baseball vs. Morehead State
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UK Men's Tennis vs. Ohio State
Boxes & Walls: Oppression through History
Wellness On Wheels
Get Your DIY On! Fix-It Station Demonstrations
Overview of Nursing Home Care
Spring (Bike) Fever Twitter Chat
UK Softball vs. Mississippi Valley
Best Practices for Tree Planting and Establishment Class 2
UK Men's Tennis vs. Morehead State
Wed
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UK Toastmasters
Bike-Through Resource Fair
Undergraduate Research Group Advising Session: April General
Presentation by Ladino Rockstar, Sarah Aroeste
Mountain Biking for Beginners Clinic
LNFS presents The Mexican Suitcase
Mr. PharmD
Performance by Ladino Rockstar, Sara Aroeste
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LNFS presents Boogie Nights
Car-Free Day
What Are They? Some Hidden Forms of the Copula in Old Irish
UK Men's Tennis vs. South Carolina
UK Baseball vs. Missouri
LNFS presents Loose Cannons
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UK Baseball vs. Missouri
UK Men's Golf Bluegrass Invitational
Arboretum Volunteer Training and Orientation
Taste of Africa
Dramatic Presentation -"Las Voces de los Apalaches"
Swing Dancing!
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UK Men's Tennis vs. Florida
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Inequality in the US: Consequences
Reframing Stress: Do You Know Your Choices?
Best Practices for Tree and Shrub Pruning Class 3
Cooking Class: For True Beginners
Pinterest Party #3
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UK Toastmasters
Virtual Dementia Tour
Children at Risk Research Conference Keynote Address: Gender, Sexuality, & Risks for Violence among Young Women and LGBTQ Youth in Urban Communities
OUTspoken: Leaving the Second Closet Behind
LNFS presents Easy Rider
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20th Annual Black Women's Conference
Children at Risk Research Conference Speaker: Why Do Home and Neighborhood Issues Become School Safety Nightmares?
The Re-enchantment of Photography as a Primanry Geographic Mapping Medium
The Re-enchantment of Photography as a Primanry Geographic Mapping Medium
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UK Softball vs. Arkansas
UK Track and Field Home meet
Unleash the Beast: Paintball Wars
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Job Club: Tighten Your Budget after a Job Loss
‘Project Learning Tree’ Workshop for Educators
Drug War Talk by Anthropologist Howard Campbell
Student Sustainability Council Meeting
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LNFS presents The Lego Movie
Registration Deadline: Weight Loss Matters
Legacy Week: Ping Pong Ball Drop
Health Smart: Mindfulness
Pre-Pharmacy Club Meeting
IPM (Integrated Pest Management) and Tree Healthcare Class 4
Shuffle Series: Bluegrass
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LNFS presents The Hobbit: Desolation of Smaug
UK Toastmasters
Wellness On Wheels
LNFS presents Juno
Perelman’s Dissociations: Double Fidélité, Fighting the Nazis, and the New Rhetoric Project’s Canon of Invention – Annual Hymson Lecture
Legacy Week: Candlelight Ceremony
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LNFS presents The Brave Little Toaster
Bonfires of Illusions: the Twin Crises of the Liberal World
Arbor Day Volunteer Orientation and Training
Alex Callinicos - "Bonfires of Illusions: The Twin Crises of the Liberal World
LNFS presents Pariah
UK Theatre presents "Joseph and the Amazing Technicolor Dreamcoat"
Color Me Spring Fashion Show
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Legacy Week: Leave Your Legacy
Arbor Day at The Arboretum
UK Theatre presents "Joseph and the Amazing Technicolor Dreamcoat"
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UK Theatre presents "Joseph and the Amazing Technicolor Dreamcoat"
UK Wind Symphony Concert
UK Symphony & Concert Band Concert
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Politics in Mexico Today
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Relieving Stress Through Your Senses
Tree Identification Class 5
Massage on the Go #3
The Practicing Happiness Workbook - author presentation
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