The Golden Triangle Economic Development Council passed an important resolution supporting Amendment One at a monthly board of directors meeting recently held in Hampton. Amendment One will be on the Nov. 7, election ballot.
The board voted unanimously to support Act 1282 authorizing the Arkansas Higher Education Coordinating Board to request the Arkansas Development Finance Authority to issue up to $250 million in college savings bonds for the improvement of technology and facilities in higher education. About $100 million of the bond issue is to be used to refund existing bonds with the remaining $150 million to be allocated to the public institutions of higher education in Arkansas.
This will bring opportunities to expand technology and facilities with no expense to taxpayers and no additional debt service. It will mean $3.5 million for Southern Arkansas University, $1.5 million for South Arkansas Community College, and $730,000 for SAU Tech.
“I believe that Amendment One has the potential to move Arkansas ahead at a faster rate than would be otherwise possible,” said Dr. David Rankin, chair of the Council. “As Amendment One involves no new taxes, I hope that Arkansas voters will find this an attractive way to build for the future.”
In other business, the Council made plans for its bi-annual Legislative Workshop to be held on Dec. 8, in the Donald W. Reynolds Campus and Community Center on the campus of Southern Arkansas University.
