University Bonds: A Good Idea (04-27-06) - WDRB 41 Louisville News

University Bonds: A Good Idea (04-27-06)

U of L President James Ramsey is angry about the 73 million dollars worth of school projects that Governor Fletcher vetoed last week. 

Of course, the Governor had to seriously slash the irresponsible budget somewhere, since there simply wasn't enough money to go around.  But Dr. Ramsey's anger is justified, because such cuts shouldn't have been necessary in the first place.

As he pointed out, almost all these were self-supporting projects that would have paid for themselves through bond issues.  And if the school had the legal authority to issue bonds on its own, the legislature wouldn't have even been involved.  45 other states do give their schools that autonomy, but Kentucky stubbornly refuses to.

A bill to allow universities this privilege has passed the state House three times, but it's never been brought up before the Sebate.  Why not?  

Clearly, someone needs to be in charge of such matters.  But I'm pretty sure Dr. Ramsey and his board would be at least as competent and responsible as David Williams and company when it comes to handling their own University's finances. 

Kentucky's public colleges and universities should have more freedom to steer their own economic boats, and the state legislature should give it to them.

I'm Bill Lamb, and that's my...Point of View.

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