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.

Most Read This Week (Site-Wide)

April 22, 2014 10384

18 EPA Earth Day Events Take Action on…

in News by EPA
April 23, 2014 5788

Dawson Springs Letter Carrier Sentenced…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 24, 2014 5652

Meet The Hopkins County Magistrate…

in News by Rita Dukes Smith, SurfKY News Director
April 22, 2014 4735

Three Juveniles Charged in Connection…

in Top Stories by Paul McRee, SurfKY News Reporter
April 21, 2014 4165

Fire Destroys Old Tobacco Building in…

in Top Stories by Rita Dukes Smith, SurfKY News Director

Most Read Stories from Hopkins County

April 22, 2014 2785

Madisonville Woman Charged with Internet…

in Top Stories by Christopher Rogers
April 24, 2014 2204

UPDATE: Four Injured in North Main…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 23, 2014 1638

MPD Detectives Investigate Hanson…

in Top Stories by Madisonville Police Department
April 24, 2014 772

Two Injured in Three Vehicle Collision…

in Top Stories by Martha Clark
April 21, 2014 631

Hanson Student Among 25 Receiving…

in Top Stories by Abbie Darst

Most Read Stories from Owensboro

April 21, 2014 4160

'Heath & Molly' Benefit Concert…

in Top Stories by Paul McRee, SurfKY News Reporter
April 21, 2014 2126

Owensboro Chamber Plans First ‘Lunch…

in News by Dennis Beard, SurfKY News
April 22, 2014 1293

DCPS Among Top 100 Nationally for Finance…

in News by Lora Wimsatt
April 22, 2014 1054

New Hwy. 54 Traffic Light to Go Into…

in News by Keith Todd
April 22, 2014 376

Owensboro Museum of Fine Art Plans Exhibit

in Top Stories by Mary Hood

Most Read Stories from Muhlenberg County

April 22, 2014 4735

Three Juveniles Charged in Connection…

in Top Stories by Paul McRee, SurfKY News Reporter
April 21, 2014 4165

Fire Destroys Old Tobacco Building in…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 21, 2014 2343

One Injured in Rosewood Wreck

in Top Stories by Trooper Stu Recke
April 22, 2014 1933

Muhlenberg Last Day of School

in Top Stories by Paul McRee, SurfKY News Reporter
April 22, 2014 1538

Parsons Named Student of the Month

in Top Stories by Joyce Riggs

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