Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster
Davis Motor Sales banner ad

Stumbo Explains use of Multi-County Coal Severance for Rupp Arena

stumbo greg 300FRANKFORT, Ky. (6/14/13) – Kentucky House Speaker Greg Stumbo said that the use of excess multi-county coal severance revenue to move Rupp Arena renovations forward is not an unprecedented concept, and that he will also work to see the $2.5 million is re-paid as the Fayette County project moves forward.
 
“In the wake of Wednesday’s story about this issue, I want to first clarify that the multi-county coal severance fund is not used by counties to fund every-day expenses, and there is traditionally a surplus in that account from one budget cycle to the next,” said Speaker Stumbo, D-Prestonsburg. “The multi-county fund was created to improve and assist coal and non-coal counties alike. Some of the more recent examples of projects benefiting non-coal counties include $355,750 to improve broadband coverage and about $2 million for regional industrial projects. Another internet-based initiative funded by coal severance money helps counties beyond the coalfields as well.
 
“I believe all of these are worthwhile and will have a positive impact. At the same time, there was broad agreement that the Rupp Arena project needed to move forward as well,” Speaker Stumbo added.
 
“Governor Beshear and the House both included $3.5 million in their budget proposals, with the money to come from bonds that would be paid back from the state’s General Fund. This is a sensible approach, because bonds will be issued to cover the sizeable cost needed to pay for all of the planned renovations. The Senate, however, refused to agree to this approach, so if the Rupp Arena renovations were going to stay on target, we had to find the revenue somewhere. Both House and Senate leaders agreed in a bipartisan way that this excess revenue in the multi-county coal severance fund could help us bridge that gap. When the bonds for renovating Rupp are issued, though, I fully intend to see that the money is replaced back into the multi-county fund, making it more of a loan than a grant.”
 
“I have fought my whole career in public service for our coal counties and will continue to do so,” he added. “While not what the House originally wanted, this approach on Rupp will not hinder any project in a coal county, and I would not have supported it if I thought it did.”
 
SurfKY News
Information provided by Brian Wilkerson

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

Posted on 2/2/14
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
Started 11/8/2013
Started 11/8/2013

Stock Report

1 DOW 16,982.59
+22.02 (0.13%)    
2 S&P 1,978.91
+0.57 (0.03%)    
3 NASDAQ 4,444.91
-4.65 (-0.10%)    
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
Started 11/8/2013
Started 11/8/2013
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
Started 11/8/2013
Started 11/8/2013
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
3/12 - 718 switched from reg 2 to hopkins only
Posted on 1/31/2014
2/6/2014 - posted
Started 11/8/2013
Started 11/8/2013

Most Read This Week (Site-Wide)

July 24, 2014 4003

Powderly Man Injured in Apparent Gun…

in Top Stories by Charles W. Riley II, SurfKY News
July 24, 2014 2871

Madisonville Man Charged for Drugs,…

in Top Stories by Trooper Stu Recke
July 28, 2014 2317

Madisonville Woman Arrested for Being a…

in Top Stories by Madisonville Police Department
July 25, 2014 2229

No One Injured in Truck-Train Collision

in Top Stories by Ami Clayton, SurfKY News
July 28, 2014 1964

Madisonville Man Arrested for Endangering…

in Top Stories by Madisonville Police Department

Most Read Stories from Hopkins County

July 24, 2014 2871

Madisonville Man Charged for Drugs,…

in Top Stories by Trooper Stu Recke
July 28, 2014 2317

Madisonville Woman Arrested for Being a…

in Top Stories by Madisonville Police Department
July 25, 2014 2229

No One Injured in Truck-Train Collision

in Top Stories by Ami Clayton, SurfKY News
July 28, 2014 1964

Madisonville Man Arrested for Endangering…

in Top Stories by Madisonville Police Department
July 25, 2014 1467

Vehicle Strikes Lawn Mower Driven on…

in Top Stories by Dep. Mike Evans

Most Read Stories from Owensboro

July 24, 2014 1395

US 231 Ohio River 'William Natcher'…

in News by Keith Todd
July 24, 2014 1123

Maintenance Scheduled at Fisher Park and…

in News by Brittni Bunn
July 24, 2014 961

Portion of Spring Bank Drive Closed…

in News by Sherry Girten
July 28, 2014 729

Zuberer Takes Over at Quarterback for…

in News by Steve LeMaster
July 28, 2014 678

Dont Miss Out on a Howl of a Good Time

in News by Brittni Bunn

Most Read Stories from Muhlenberg County

July 24, 2014 4003

Powderly Man Injured in Apparent Gun…

in Top Stories by Charles W. Riley II, SurfKY News
July 24, 2014 1858

Muhlenberg to Have State's Only Honey…

in Top Stories by Charles W. Riley II, SurfKY News
July 25, 2014 1421

Business Spotlight - McQuady's Automotive

in Top Stories by Charles W. Riley II, SurfKY News
July 24, 2014 1389

Marching Mustangs Band Camp Underway

in Top Stories by Charles W. Riley II, SurfKY News
July 25, 2014 1245

Business Spotlight - Blue Moon Car Wash

in Top Stories by Charles W. Riley II, SurfKY News

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 06social 21social 22social 04social 03