Universities across Oklahoma ready for bond issue

Sunday, February 20th 2005, 1:59 pm

By: News On 6

OKLAHOMA CITY (AP) _ The University of Oklahoma, Oklahoma State University and their branch campuses stand to benefit the most under a proposed $500-million higher education bond issue.

More than half of the proposed bond issue -- about $234-million -- is headed for those institutions.

The rest of the money would be distributed among Oklahoma's other 25 public colleges and universities. Ultimately, 140 projects would be built in 36 communities across the state.

The bonds -- plus more than $400-million in interest -- would be paid off over 30 years using higher education's share of proceeds from a state lottery.

The bill is pending in the Oklahoma Senate and still must be approved by the Republican-controlled House and Democratic Governor Brad Henry. Henry has endorsed the plan, but House leaders have expressed some reservations.