Senator Cal Hobson said today that college students throughout Oklahoma will soon see the results of a $500 million dollar investment in their future when construction begins on projects included in the Higher Education Bond Issue that passed the Senate with bi-partisan support. Hobson, Senate author of the bill, said passage of House Bill 1191, marks the end of months of work on an issue that will go down in history as an important victory for higher education and a victory for all Oklahomans.
“If there is downside to this issue it is due to the delay of Speaker Hiett to act quickly on the original measure that passed the Senate close to two months ago. Because of that delay, interest rates have risen and taxpayers will have to absorb those costs.” Hobson said. “But, I am pleased that finally today we can send HB 1191 to the Governors desk for his signature and lock in those interest rates before they rise again.”
Hobson, (D-Lexington) said the bond issue is expected to create more than 4,000 new construction jobs and have an initial economic impact of more than $737 million.
Senator Hobson praised the Senate’s passage of the measure.
“Passing this bond issue sends an important message – investing in education and our state’s future isn’t a partisan issue. It’s an Oklahoma issue and I’m proud the Senate endorsed the bond package developed by our college presidents.” Hobson said. “The work on this bill is an important part of our continued effort to make tomorrow better for our children and make a brighter future for this state.”