Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster

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.

In Other News...

Southern Knocks Off Defending State Champ Paintsville

BOWLING GREEN, Ky. (7/21/14) — The Owensboro Southern 11-year-old All-Stars pulled away to beat defending state… Read More

Strahan Selected as Cravens Elementary Principal

OWENSBORO, Ky. (7/21/14) — Cortney Strahan has been chosen as the next principal of Cravens Elementary School to fill… Read More

Most Read This Week (Site-Wide)

July 17, 2014 5585

Madisonville Woman Arrested for Drugs,…

in Top Stories by Madisonville Police Department
July 18, 2014 2744

Madisonville Man Arrested for Meth in…

in Top Stories by Sheriff Curtis McGehee
July 17, 2014 2666

Beechmont Man Charged for Assaulting…

in Top Stories by Sheriff Curtis McGehee
July 17, 2014 2486

Madisonville Staples Locking Doors for…

in Top Stories by Amber Averitt, SurfKY News
July 17, 2014 2448

One Hospitalized after Three-Vehicle…

in Top Stories by Madisonville Police Department

Most Read Stories from Hopkins County

July 17, 2014 5585

Madisonville Woman Arrested for Drugs,…

in Top Stories by Madisonville Police Department
July 18, 2014 2744

Madisonville Man Arrested for Meth in…

in Top Stories by Sheriff Curtis McGehee
July 17, 2014 2486

Madisonville Staples Locking Doors for…

in Top Stories by Amber Averitt, SurfKY News
July 17, 2014 2448

One Hospitalized after Three-Vehicle…

in Top Stories by Madisonville Police Department
July 19, 2014 916

Local Hip-Hop Artist, Marack, Talks About…

in Top Stories by Amber Averitt, SurfKY News

Most Read Stories from Owensboro

July 17, 2014 1524

Portion of Daviess Street Closed Monday,…

in News by Sherry Girten
July 17, 2014 1512

Camp Superpower Students to Show Off…

in News by Beth Blandford
July 18, 2014 1387

Owensboro Police Department Reports…

in News by Dennis Beard, SurfKY News
July 17, 2014 571

Owensboro Police Department Reports…

in Top Stories by Dennis Beard, SurfKY News
July 18, 2014 384

Owensboro Begins Year-Long, Long Range…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

July 17, 2014 2666

Beechmont Man Charged for Assaulting…

in Top Stories by Sheriff Curtis McGehee
July 17, 2014 1974

Muhlenberg Woman Injured in Motorcycle…

in Top Stories by Trooper S. C. Recke
July 17, 2014 1863

Muhlenberg Prayer Vigil Held at County…

in Top Stories by Charles W. Riley II, SurfKY News
July 18, 2014 1620

K9 Unit Helps Find Meth in Muhlenberg…

in Top Stories by Sheriff Curtis McGehee
July 18, 2014 1527

Man Injured in Depoy Accident

in Top Stories by Trooper Stu Recke

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