Transcript Highlights:

• And then we also use our repayments to pay back the debt...
• The debt management division serves as staff to the State Debt Policy Advisory Commission.
• The debt management division serves as staff to the state debt policy advisory commission, a state debt
• policy advisory commission, The debt policy advisory commission serves as staff to the State Debt Policy
• There's no debt against that. It's been a long, hard slog.

Summary: The task force met to focus on funding systems and incentive structures for a proposed regional waste infrastructure effort, including how a future WIPA framework might support solid waste planning in the Willamette Valley. Staff and members heard presentations from DEQ on the Clean Water State Revolving Fund, from Business Oregon on the Special Public Works Fund, and from Oregon State Treasury on state bonding capacity and the bond issuance process. Presenters explained how their programs are structured, how projects are scored or approved, what kinds of public entities and projects are eligible, and how interagency coordination and co-funding can work. DEQ emphasized that its revolving loan fund is driven by water-quality benefits and public-health criteria, while Business Oregon described a broader infrastructure loan program for public entities with no scoring system, and Treasury outlined the state’s debt-capacity process and the differences between general obligation and lottery bonds. Members used the presentations to discuss whether similar funding tools could support solid waste infrastructure, especially for transfer stations, regional hubs, and related facilities that may need to be built before Coffin Butte reaches the end of its lifespan. Several questions centered on whether public-private partnerships could qualify, whether equipment inside facilities could be financed, how repayment would work, and whether planning costs could be covered. DEQ and Business Oregon both said they could potentially collaborate on scoring or co-funding, but noted eligibility limits and the need for public ownership in many cases. Treasury said bond capacity is limited and competitive, especially for lottery bonds, and that project authorization generally runs on a two-year cycle, though unused authority can sometimes be reauthorized. In task force discussion, members debated whether the group should pursue a dedicated funding lane for the seven-county region rather than having local governments compete with other statewide needs. Some members stressed the importance of criteria to avoid stranded assets and to ensure funding is available when projects are ready, while others raised concerns about how cities and counties would generate revenue to repay debt during construction and early operations. The group also discussed flow control, system fees, and the need for regional collaboration among counties, cities, and haulers to create enough waste volume to support new infrastructure. Staff noted that pre-session filing materials for the legislature are due September 11, and the chair said the August meeting will focus on organizational structure and identifying partners. During public comment, Representative Kevin Mannix submitted written testimony supporting the WIPA concept and urging the task force to endorse it. Commissioner Bubba King of Yamhill County urged the task force to compare alternatives objectively and warned against adding bureaucracy before evaluating existing infrastructure and costs. Commissioners Kevin Cameron and Roger Nyquist of Marion and Linn counties described regional hub-and-spoke concepts, transfer stations, and intermodal options, emphasizing the need for planning, strategic siting, and collaboration with haulers and local governments.

Transcript Highlights:

• upcoming general obligation debt.
• Locally supported debt service was around 85%, and SFCC debt service participation was around 15%.
• 01:47.439> around<00:01:47.720> 85% supported debt service was around 85% supported debt
• He's going to present agenda items 7B and 7C, a new debt issue and two SFCC debt issues requiring action
• Starkweather, please begin with the new debt issue after you introduce yourself. and five previous debt

Keywords: 00:05 Call to Order and Roll Call 00:34 Approval of Minutes 00:56 Information Items 05:40 Project Rpt from Postsecondary Institutions 14:00 Project Rpt from Finance and Administration Cabinet 20:40 Lease Rpt from Finance and Administration Cabinet 24:53 Rpt from OFM – Ky Infrastructure Authority 40:38 Office of Financial Management 47:39 Remaining 2025 Meeting Dates 48:05 Adjournment, 958, all

Summary: The meeting began with routine business, including a quorum call, approval of the April minutes, and several informational reports. Those information items covered upcoming general obligation debt for Bullitt, Jefferson, and Warren counties; Kentucky Communications Network Authority updates tied to House Bill 6; Eastern Kentucky University asset preservation reallocations under House Bill 1; and School Facilities Construction Commission debt activity, including 20 prior debt issues totaling about $386 million with roughly 85% locally supported debt service and 15% SFCC participation. Members then discussed concerns about a Kentucky Communications Network Authority project, focusing on a reported discrepancy between an appropriation of $12.927 million and an apparent payment of about $8.532 million on a project with a cost estimate of $12.449 million. Several members asked for more detailed written information before the next Capital Projects meeting, noting that a lawsuit is pending and that they wanted to better understand the basis for the request and the spending to date. The committee also heard and unanimously approved a donor-funded Northern Kentucky University project to renovate tennis courts, with possible pickleball additions, after questions about why approval was needed, the project’s estimated $3 million cost, and its expected minimal ongoing operating costs. The committee next received Kentucky State University pool allocation reports for three projects: a $2 million McCullen Hall renovation, a $1.75 million walkway and miscellaneous repairs project, and a $2 million academic services building roof-and-window project. A member asked specifically about curb cuts and accessibility in the walkway project, and Kentucky State said existing curb cuts would be repaired and additional accessibility issues would be reviewed by engineers. The lease report from the Finance and Administration Cabinet included one lease modification requiring approval for the Attorney General’s office in Franklin County and one no-action modification for the Board of Cosmetology; the Attorney General lease was approved by roll call vote. Finally, the Kentucky Infrastructure Authority presented five loans and 37 grants, with action taken on the loan and grant items. The loans included a Hodgenville wastewater treatment plant increase, a Grant County sewer district treatment plant loan, a Mount Sterling dam rehabilitation loan, and two Morganfield drinking water loans for granular activated carbon treatment, one with full principal forgiveness. Members asked about the Morganfield project’s purpose and were told it was a remediation effort for a water-quality concern, and they also raised questions about engineering fees, which KIA said are compared against a U.S. Rural Development fee schedule that is industry accepted. The committee also reviewed cleaner water program grant reallocations from county allocation pools.

Transcript Highlights:

• The debt portion you're, you're talking about, um, is from the debt portion of the tax rate, um.
• And that's $150 million roughly in taxes to pay the general obligation debt, the voter-approved debt,
• certificates of obligation, not the utilities debt, that's a separate income stream and debt, debt,
• the debt on the airport?
• And none of the, none of the debt leaves the boundaries either, or the debt leaves the boundaries and

Transcript Highlights:

• You may be asking what is sovereign debt?
• Historically, borrowing countries have often Chosen to issue this debt under the law of New York and
• , sovereign debt.
• External debt issued by foreign nations or sovereign debt is typically governed by New York law.
• Both investors in and issuers of sovereign debt want a stable legal regime for these bonds.

Bills: HB74, HB175

Keywords: environmental project, public money, political subdivision, greenhouse gas emissions, federal law compliance, renewable energy, water conservation, retroactive child support, child conception, paternity, family law, health care expenses

Transcript Highlights:

• , so those debt service payments would not be needed.
• Not be able to sell additional debt, so those debt service payments would not be needed.
• Okay, so we're not going to be paying debt service.
• So the $69.9 million is broken up: $30 million for debt service...
• us into debt for the purpose of construction.

Keywords: 996, all

Summary: The committee met with quorum and took up only HB 3, the Department of Transportation Appropriation Act of 2026 for FY27. The bill was presented as an amended budget that would increase NMDOT’s operating budget by about $132.6 million, or 10.2%, using available cash balances, additional projected revenue, and contingent revenue tied to Senate Bill 2, the highway bond bill. Staff walked through the amendment section by section, explaining changes to project design and construction, highway operations, program support, modal programs, federal and interagency transfer lines, corrected performance-measure language, and added budget adjustment authority for the current and next fiscal years. Several members raised concerns about the late circulation of a revised amendment and the appearance of multiple bill versions, arguing the committee had not had enough time to review the changes and that the process may have violated the 24-hour rule. Others asked for clarification on how the budget distinguished between rehabilitation and maintenance, and DOT staff explained that major rehabilitation is generally tied to STIP projects while maintenance is handled through district-level plans and contracts. Members also discussed the use of cash balances for non-recurring spending, the impact of electric vehicles on road revenue, and the need for more maintenance, litter cleanup, fencing, and beautification funding. DOT and executive representatives noted the amendment includes a significant maintenance increase and said additional non-recurring funding could also come through House Bill 2 and the capital bill. The committee first rejected a substitute motion to delay action, then adopted the amendment and later voted due pass on HB 3 as amended. Public comment was opened, but no one spoke in support or opposition. After passage, members explained their votes, with some supporting the bill as a needed transportation investment and others objecting to the process and the compressed review timeline.

Transcript Highlights:

• A portion of this debt is owed by non-custodial parents with limited incomes who often struggle to meet
• This high interest rate compounds the debt, making it increasingly difficult for low-income parents to
• Not due to unwillingness, but because the debt has become so unmanageable.
• For many, this debt grows during times of crisis, after a job loss.
• There are about 928,000 owe arreas with about $21 billion in debt.

Bills: SB629, SB1015, SB2501, SB2933

Keywords: child support, interest accrual, family law, delinquency, financial judgment, statutory probate courts, probate court fees, judicial fund, county reimbursement, comptroller, Texas Government Code, Local Government Code, court fees, fee allocation, excess contributions, judicial education and support fund, presiding judge salary, county finance, court administration, Texas judiciary

Transcript Highlights:

• Line 135 shows debt service equalization aid.
• Line 135 shows debt service equalization aid.
• The Debt Service Levy, if you would, Mr.
• The Debt Service Levy, if you would, Mr.
• 17 million left of the bonded debt 17 million left of the bonded debt that's<00:46:15.359> because

Keywords: 1183, house

Transcript Highlights:

• So this is a debt product that is used by people who have so much debt that they feel like they would
• find now an increase in the use of debt find now an increase in the use of debt consolidation<00
• falls through into their uh kind of debt falls through into their uh kind of debt and<00:56:40.400
• gets them more and more in debt gets them more and more in debt obviously<01:32:08.639> um
• Thank you. debt in these last nine months December debt in these last nine months December 2nd<01:40:

Keywords: 1187, senate, all

Transcript Highlights:

• We don't issue debt very frequently, but we are doing a refinancing of prior debt that was issued to
• I want to, um, you may already be aware, the university system can only issue debt for self-supporting
• So for residence halls, dining facilities, etc., we cannot issue debt pursuant to statute for academic
• This debt is issued through the HEFA, the Health and Education Facilities Authority, and the state is
• <00:04:19.280> for system can only issue debt for system can only issue debt for self-supporting

Keywords: 1189, house, all

Summary: The Capital Project Overview Committee met at 9:00 a.m. and first approved the September 29 minutes. The committee then considered University System of New Hampshire Capital Project 260001, a $70 million request involving two residence hall renovation projects at UNH. UNH officials said the work is needed to address aging 1970-era buildings, including heating, plumbing, and other deferred maintenance, and to improve student recruitment, retention, and living conditions. Members asked about the construction timeline, which was estimated at about four years, and about enrollment decline, which was estimated at roughly 15% over 10 years. The committee approved the project after discussion, with members noting the buildings’ age and need for repair. The committee next heard Capital Project 26003 from the Department of Natural and Cultural Resources for Cannon Mountain. Commissioner Sarah Stewart and staff described an $893,000 tranche, part of a larger effort to address deferred maintenance at the mountain, including guest facilities, lift infrastructure, a passenger ramp for scenic chairlift use, snowmaking improvements, a line replacement, a pump rebuild, and operations equipment. Members asked about the $6 million bonding limit established in 1999, and the department said it appears insufficient and may need updating in the future. The committee approved the Cannon Mountain request. The department also provided an informational update on the Cannon Mountain aerial tramway. Officials said a structural engineering firm is analyzing towers, terminals, and footings, with the goal of confirming the existing infrastructure can support a new tram system and refining bid specifications. They said the work is on track, with an updated cost estimate expected in January and a bid targeted for May. Members asked about the limited number of manufacturers capable of doing the work and whether the project could be delayed; the department said it is in active discussions with the likely bidders and pre-qualifying them. The meeting ended with brief discussion of informational reports, including a question about apparent delays in some New Hampshire Veterans Home projects, which staff said they would follow up on, and the committee adjourned with the next meeting set for March 16 at 9:00 a.m.

Transcript Highlights:

• National and local evidence shows that assets improve health while debt...
• To prevent devastation caused by medical debt, the governor has also committed to banning this debt from
• Out-of-pocket health costs can lead to unsustainable debt levels.
• And so students take on a tremendous amount of debt.
• And that debt is not evenly distributed across races.

Keywords: 995, all

Summary: The Joint Committee on Racial Equity, Civil Rights, and Inclusion held a hearing on the impact of federal policy on the racial wealth gap in Massachusetts, the fourth in a series on federal impacts on racial equity. Chair Bud Williams and Chair Miranda opened by emphasizing that no bills were being heard and that the committee would instead take testimony from invited witnesses; public written testimony was also accepted. The chairs and witnesses repeatedly cited long-standing wealth disparities affecting Black and brown communities, including homeownership, wages, business ownership, and access to capital, and linked those disparities to federal policy changes, housing, education, health care, and workforce development. Administration officials testified first. Secretary of Labor and Workforce Development Lauren Jones described persistent labor market disparities, including higher unemployment for Black and Latino residents, lower median hourly wages, and underemployment among degree holders, and highlighted state efforts such as ESOL-for-work funding, workforce training grants, MassHire career centers, skills-based hiring, and the state equity dashboards. Secretary of Health and Human Services Kiami Mahania argued that poverty drives poor health, not the reverse, and said wealth gaps contribute to chronic disease, maternal health inequities, medical debt, and shorter life expectancy; she pointed to the Advancing Health Equity Massachusetts initiative, a health care affordability working group, and the governor’s push to bar medical debt from credit reporting. Assistant Secretary Juan Vega of EOED focused on entrepreneurship and procurement, citing technical assistance grants, founder support programs, place-based investment, the Business Front Door, and the need to broaden access to contracts, capital, and business growth opportunities. Committee members pressed the panel on the effects of the federal “big beautiful bill” on households, especially single-parent and Black women-led households, and on whether the state could develop more timely data systems instead of relying on federal numbers. Officials said the impacts were still being monitored, but warned that Medicaid and SNAP changes would likely hit lower-income households and community institutions hard. Members also asked about unions and apprenticeships, microbusiness definitions, supplier diversity, pay equity, and degree inflation; the administration said registered apprenticeships and skills-based hiring are key tools, and noted that wage equity reporting is still in its early stages. Later testimony from BECMA’s Nicole O’Bean stressed that tariffs, DEI rollbacks, immigration enforcement, capital gaps, and federal funding cuts are constraining Black-owned businesses and inclusive procurement, while Gastón Institute researchers described severe Latino homeownership and rent burdens, educational inequities, and the need for housing, labor, and education policy changes to close the wealth gap.

Transcript Highlights:

• Empower Texans with the knowledge they need to make informed decisions about local taxation and debt.
• I mean, this bill is specifically for local debt, and there is a separate obligation for state debt.
• or approved debt, whether it be for roads or higher education.
• service used in calculating the voter approval rate to include only minimum debt service.
• We respectfully ask for annual minimum debt service to be added to the debt database for additional transparency

Bills: HB 103, HB 1256, HB1587, HB1632, HB2027, HB2525, HJR88, HJR138, HB103

Keywords: taxing unit, bond database, local government, transparency, civil penalty, education reform, funding allocation, school infrastructure, teacher recruitment, student achievement, tax exemption, water conservation, graywater systems, rainwater harvesting, ad valorem taxation, county commissioners, HB 1587, Texas sales tax holiday, back-to-school tax holiday, clothing tax exemption

Transcript Highlights:

• It does ask for the study of potential benefits and restructuring of all public schools in New Hampshire

Keywords: 1189, house, all

Transcript Highlights:

• That is inclusive of projects that don't have a third-party debt.
• Debt. Third is rent assistance.
• And so debt financing is a piece of that.
• And so that is, you know, elderly and disabled — it is debt financing.
• It is true debt, so we loan it to projects. The projects pay us back.

Keywords: 907, all

Summary: The committee met for a series of information sessions focused on housing stabilization, rental assistance, senior housing, and heat resilience. In the first panel, OHCS and NOAA described the state’s affordable housing preservation work, including the $35 million in 2025 stabilization funding used to reduce debt and keep distressed affordable rental projects operating, plus manufactured home park preservation efforts. OHCS said the portfolio remains under strain, with about a third of projects at debt coverage ratios of 1.0 or less and rising insurance and operating costs. NOAA urged faster closings on the stabilization awards, more funding in 2027, and broader rent assistance and process reforms. Committee members asked about the gap between current appropriations and need, and OHCS explained that the new Article 11-Q bond preservation program is structured differently and requires full refinancing rather than simple cash infusions. The committee then heard a detailed discussion of the state’s eviction prevention and rental assistance program, ORDAP. OHCS said the program is administered through community action agencies, prioritizes households at imminent risk of eviction, and is now funded at a much lower level than in the prior biennium, reducing expected service to about 8,200 households this biennium. The Oregon Law Center, a county community action agency, and Multifamily Northwest all agreed the program prevents homelessness and is effective, but they differed on whether assistance should be tied so closely to eviction court. Legal aid and community action witnesses said the current system is underfunded and that eviction filings are the clearest indicator of need, while Multifamily Northwest argued the process can push people into court unnecessarily and should be moved earlier when possible. Legislators raised questions about whether a pre-eviction model could be developed and about the costs of court involvement; one member shared a personal story about how rental assistance helped keep their family housed. Next, the governor’s office, OHCS, and OHA presented on the new senior housing initiative and healthy homes work. The governor’s housing director said Oregon is making progress on homelessness and housing production, with reductions in homelessness outside Multnomah County and an estimated 50,000 future units added to the pipeline through recent state actions. OHCS outlined the senior housing programs launched in May: a debt-financing program using elderly and disabled bond authority, an older adult housing development program funded through the senior property tax deferral revolving account, and a rehousing program for older adults that will use bridge funding and services to move at least 400 unsheltered older Oregonians into housing. OHA also described its Healthy Homes Grant Program, including $24.6 million already awarded, a new $5 million grant round for seniors and people with disabilities, and examples of home repairs and weatherization that help people remain safely housed. The final information session focused on home cooling and heat resilience. OHA presented data showing rising extreme heat days, more heat-related emergency visits, and likely undercounted heat deaths, especially among older adults, people with disabilities, low-income communities, and people without access to healthy homes. ODOE reviewed implementation of Senate Bill 1536, including a cooling needs study that found 58% of surveyed households in the studied housing types needed permanent cooling, with estimated statewide costs of $582 million to $1 billion. ODOE said its rental home heat pump and community heat pump programs have supported 4,638 installations so far, with a temporary reopening planned using remaining funds. The session ended with a remote presentation from a Community Action Partnership of Oregon representative, continuing the discussion of how community action agencies help deliver energy and anti-poverty services.

Transcript Highlights:

• That’s our debt-free program. That dashed line at 9,200.
• undergraduates at UC graduated without debt.
• Those who do graduate with debt have nearly 50% less debt than the national average for bachelor’s degree
• That will be in figure four in the student loan debt at graduation sheet.
• That group’s average debt in 2024-25 was $13,800.

Summary: The subcommittee on Education Finance heard an overview of the governor’s budget proposals and higher education financial aid trends, with a major focus on the Middle Class Scholarship (MCS), Cal Grant spending, and the effects of recent federal student aid changes. The Department of Finance said the budget would fully fund Cal Grant at projected levels and reduce MCS coverage from 35% to 17.5% of unmet need in 2026-27, while the Legislative Analyst’s Office supported considering the reduction as a cost-saving measure given out-year deficits. UC and CSU representatives opposed the cut, saying MCS is important to affordability and debt-free degree goals; they estimated average awards would fall substantially and that campuses do not have funds to backfill the loss. The Student Aid Commission said the proposal would reduce aid but simplify administration, and members questioned how lower awards would affect students, borrowing, and work-study options. No vote was taken, and the issue was held open for possible future action. The committee then discussed federal changes to student loans and Pell Grant policy under H.R. 1, including caps on Parent PLUS loans, elimination of Grad PLUS loans, and new proration rules for federal direct loans based on enrollment intensity. The LAO said these changes would likely push some borrowers into the private market, especially graduate and professional students and some parents of students at private institutions. CSU said the changes would affect thousands of graduate and part-time students and could reduce access by about $97 million in loan availability for part-time borrowers, while UC said the new definitions of professional degrees were too restrictive and would reduce access for nursing, teaching, law, dentistry, and other programs. Community colleges said they use relatively little federal loan aid but are monitoring Workforce Pell. Members raised concerns about workforce impacts, social mobility, and whether the state should consider alternative loan programs or other ways to reduce student costs. This issue was also held open. In the segment financial aid update, the LAO reported Cal Grant spending is projected to rise to about $3.2 billion in 2026-27, driven by more recipients and higher awards tied to UC and CSU tuition increases, while CSAC said FAFSA and CADAA applications are up significantly year over year. CSU, community colleges, and UC described their aid packaging and rising aid totals, with CSU reporting over $5.5 billion in aid to 381,000 students, community colleges reporting over $4.3 billion to more than 920,000 students, and UC reporting $3.17 billion in grant aid to undergraduates. Members asked about Cal Grant reform, application trends, and long-term outcomes; UC and community colleges pointed to alumni and wage dashboards, and the LAO noted the state’s Cradle to Career data effort. The committee then took public comment, including testimony on library funding and other education-related priorities, and concluded by holding the issues open without formal action.

Transcript Highlights:

• That is where we house our federal funding and debt service. funding and debt service.
• I'm looking at your debt service on page three, and I see where we have $100 million in debt service.
• I'm not going to have a 20-year debt on a consumable item.
• Why do we need another $30 million to pay debt service? So then that brings a debt service.
• with the old debt.

Keywords: 996, all

Transcript Highlights:

• Representative Griffin, what is our debt? Thank you. What is our debt?
• And the way I look at debt is debt that the State of Arizona general obligations are responsible for.
• is backing up, like we share the debt to the convention center for the City of Phoenix.
• We've paid off in advance about $2.5 billion of debt. We've done a good job.
• In my tenure, we've paid off in advance about $2.5 billion of debt.

Summary: The meeting covered a series of fiscal year 2027 budget and budget-related bills, beginning with the general appropriations and tax package. Staff and the chair highlighted a budget built around about $1.4 billion in tax cuts, a one-time 2.5% agency reduction, major funding for state employee health insurance, corrections, flood and wildfire relief, and other supplemental appropriations. The chair repeatedly urged support for the package, emphasizing the size of the tax cut and noting that the committee’s joint vote had only three no votes out of 28 members. Members then reviewed several smaller budget implementation bills affecting racing and gambling, capital outlay, commerce and defense innovation, corrections, environment and water policy, higher education, human services, K-12 education, county finance, tax administration, state data governance, and state office rent rates. Key provisions included extending or modifying funds and fee structures, transferring surplus or unneeded monies, creating or revising oversight boards and pilot programs, increasing K-12 funding by 2% for inflation, adjusting university retention limits, expanding SNAP and housing-related requirements, and changing tax conformity and credits. Several members asked clarifying questions about specific items such as electric vehicle charging funds, mobile home relocation payments, university funding, and the new health insurance oversight board. The chair also explained the tax bill’s major changes, including conformity to federal tax law, a larger dependent tax credit, changes to deductions, repeal of certain tax credits, veteran property tax relief, limits on data center tax incentives, and provisions affecting manufacturing infrastructure and unemployment insurance administration. The committee discussed the Budget Stabilization Fund, debt repayment, and education rollover balances, with the chair arguing for using surpluses to pay down debt. The final item discussed was a behavioral health bill creating a home and community-based services program for adults determined to be seriously mentally ill, with a stated FY 2027 total fund appropriation of $7.8 million contingent on federal approval and matching funds. The meeting ended with a reminder that floor action would begin the next day at 10 a.m.

Transcript Highlights:

• million, which is equal to our current debt service.
• We don't necessarily have to refinance the existing debt into the new debt, but it makes sense because
• Still, 20 years' worth of debt. We don't need to be in debt.
• I mean, we don't need to take our old debt.
• That's this debt right here. It's 2001 debt. Twenty years later, we're doing that.

Keywords: 996, all

Transcript Highlights:

• As they said, it is either capital that has been set aside or borrowing and then paying down that debt
• we have to borrow and then pay<02:35:35.840> down<02:35:36.080> that<02:35:36.399> debt
• pay down that debt pay down that debt um<02:35:39.080> we<02:35:39.240> are<02:35:
• Nathan Rake: The ISO has more than two decades of experience administering the region's restructured
• <04:05:04.760> Electric the Region's restructured Electric the Region's restructured Electric

Keywords: 1189, house, all

Transcript Highlights:

• When the government forgives the debt of people who paid, took out a loan for college debt, does that
• Does it help them when student debt is illegally forgiven?
• And the last, I mean, it's just crazy where the debt is.
• And then you add the component of who is buying much of that debt.
• Much of that debt is being bought by the Federal Reserve.

Transcript Highlights:

• through their fiscal agents, seven school districts, none of which needed an additional tax levy to pay debt
• service, reported debt issues to finance new projects, and one school district reported a tax revenue
• There will be no UK or Commonwealth debt issued for this project.
• There will be no UK or Commonwealth debt issued for this project.
• There will be no UK or Commonwealth debt There will be no UK or Commonwealth debt issued<00:09:40.880

Keywords: 958, all

Summary: The committee first handled routine business, including a quorum call, approval of the April 27 minutes, and a report of informational items. Those informational items included University of Kentucky medical equipment purchases, UK’s planned use of restricted funds for a public-private partnership, school district debt notices, UK’s use of construction management at risk for five projects, Kentucky Communications Network Authority capital project reporting, and UK lease improvements. The main action item was University of Kentucky’s request for approval of a $600 million central plants and utility infrastructure P3 tied to the Chandler expansion and other campus facilities. UK said the project would modernize and expand utility capacity, improve redundancy and efficiency, and support 24/7 hospital operations. UK explained that the financing would combine private equity and nonprofit debt, with no UK or Commonwealth debt or upfront payment, and that future availability payments would come from UK Healthcare funds. Members asked about the financing stack, the source of the restricted funds, and whether existing units would be replaced or modernized. The committee then approved the P3 agreement by roll call vote. The committee also considered and approved a lease renewal for a 20,000-square-foot College of Medicine facility near the Bowling Green Medical Center. UK said the lease would cost $38 per square foot, or $912,000 annually, and supports its long-running partnership with Bowling Green Hospital and planned medical student growth in the region. Members spoke favorably about the local impact of the program, and the lease renewal passed by roll call vote. Finally, the Finance and Administrative Cabinet reported three items requiring no action, including a $2.103 million Transportation Cabinet Department of Aviation project for two medium box hangars at Capital City Airport. Cabinet staff said the project would be funded by federal aviation money and restricted aviation funds, and later explained that the restricted funds come from a jet fuel tax deposited into the Aviation Economic Development Fund.