Officials unveil $475 million bond package

Friday, May 23rd 2008, 8:41 am
By: News 9

Staff and Wire Reports

   Governor Brad Henry and legislative leaders reached an agreement Thursday night on a $475 million bond program that will fund road and bridge improvements and other capital needs.

   The bond program is packaged in three separate bills that the House and Senate will vote on tomorrow, when the Legislature plans to adjourn its 2008 regular session.

   The agreement includes $300 million for roads and $100 million for higher education endowed chairs.

   Also included is $25 million for a low-water dam project on the Arkansas River in Tulsa, $25 million for flood control dams in rural Oklahoma and $25 million for the American Indian Cultural Center in Oklahoma City.

   Lawmakers turned to the bond issue because they were unable to include the money in a $7.1 billion standstill budget for the 2009 fiscal year.