Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | 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)

September 15, 2014 4979

Man Accused of Stealing Rural King…

in Top Stories by MCSO PIO Alex Piper
September 15, 2014 4737

Man Accused of Stalking Woman During Her…

in Top Stories by GPD PIO Wes Miller
September 16, 2014 3628

Postal Worker Arrested for Terroristic…

in Top Stories by GPD PIO Wes Miller
September 17, 2014 2321

Wanted Man Leads Troopers on Chase…

in Top Stories by Trooper Stu Recke
September 15, 2014 2301

Man Arrested for DUI, Carrying Concealed…

in Top Stories by Madisonville Police Department

Most Read Stories from Hopkins County

September 17, 2014 2321

Wanted Man Leads Troopers on Chase…

in Top Stories by Trooper Stu Recke
September 15, 2014 2301

Man Arrested for DUI, Carrying Concealed…

in Top Stories by Madisonville Police Department
September 15, 2014 2169

Man Arrested for Being Under Influence of…

in Top Stories by Madisonville Police Department
September 17, 2014 1657

Three Injured in Two-Vehicle Accident

in Top Stories by Kyle Pharris
September 17, 2014 795

Crime Stoppers Top Most Wanted -…

in Top Stories by Crime Stoppers

Most Read Stories from Owensboro

September 15, 2014 1362

Owensboro Convention Center Announces…

in News by Madison Strobel
September 15, 2014 1022

Marian Retreat Oct. 18-19

in News by Jennifer Kaminski
September 14, 2014 965

Come and Explore at Sister Trek 2014

in News by Jennifer Kaminski
September 15, 2014 906

Parking Committee Meeting Location Change

in News by Beth Cecil
September 15, 2014 458

Owensboro Man Charged With Burglary,…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

September 15, 2014 4979

Man Accused of Stealing Rural King…

in Top Stories by MCSO PIO Alex Piper
September 15, 2014 4737

Man Accused of Stalking Woman During Her…

in Top Stories by GPD PIO Wes Miller
September 16, 2014 3628

Postal Worker Arrested for Terroristic…

in Top Stories by GPD PIO Wes Miller
September 17, 2014 2248

Two Arrested for Meth After Traffic Stop

in Top Stories by Alex Piper
September 14, 2014 2147

Three Injured in Single-Car Collision

in Top Stories by Robert LIttlepage

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)


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

social 03social 04social 22social 21social 06