Alabama Governor Riley Signs Historic Bond Issue for School Construction, Repairs

By admin - Posted on June 18th, 2007

June 13, 2007 -- MONTGOMERY – Alabama Governor Bob Riley on Wednesday signed into law the largest education bond issue in state history at Dannelly Elementary School in Montgomery. The $1.07 billion bond issue is Alabama’s first for school construction since 1998. The bond issue will provide funds for construction and repairs to every city and county K-12 system as well as the public four-year and two-year college systems. Governor Riley first suggested an education bond issue in 2005 and included an education bond issue in Plan 2010, his second term agenda. The measure eventually attracted strong bipartisan support. Below is background information on the bond issue, and attached is information detailing how much each school system will receive.

Education Facilities Act of 2007

Background

* Largest bond issue in state history
* First education bond issue in almost a decade (last was 1998)
* Every K-12 school system and every Higher Ed institution will receive funding
* K-12 receives $658.6 million (74.5%)

Includes $200,000 base and funds based the Average Daily Membership formula and the foundation program formula (poverty)

$15 million supplemental allocation targeted specifically to Black Belt school systems

Funds for systems that have suffered from a natural disaster ($13.4 million)

Funds for Technology ($11 million)
*

Higher Education receives $226.4 million (25.5%)

2 year schools receive $48 million

4 year schools receive $178 million

* Other Allocations total $185.5 million, including:

Workforce Development Training: $20 million

Youth Services: $14 million

Rehabilitation Services: $11 million

Forensic Sciences at Auburn: $7 million