Oklahoma State Senate
Oklahoma City, Oklahoma 73105
For Immediate Release: January
Senate Republican Leader Glenn Coffee
Senate Republicans Supportive of Higher Ed Bond Issue,
But Concerned About Funding Source
Senate Republican Leader Glenn
Coffee said today that Senate Republicans are generally supportive
of the higher education bond proposal, but are concerned whether
the new state lottery will provide sufficient funds to pay the annual
“Senate Republicans have long been very supportive of higher
education, and I am certain there will be widespread support within
our caucus for the concept of a higher education bond issue,”
stated Coffee, R-Oklahoma City.
“However, many of our members are concerned that the lottery
may not provide sufficient funds to meet the required debt service
payments. There is no track record of lottery revenues in Oklahoma,
so the Legislature must make sure that the lottery is the right
funding source to fully fund this project,” he said.
For Fiscal Year 2006 the State Equalization Board has estimated
that the lottery will produce only about $65.5 million, of which
about $28 million would be available for higher education.
more information contact:
Senate Communications Office - (405) 521-5774