Saul Hubbard has the good news in the RG today. The ask was for $100M, but the rest will come next biennium or so. These are the kinds of bonds that are repaid by taxpayers – unlike the $235M the state let UO borrow for Knight Arena. Those bonds are UO’s obligation to repay, and are an ongoing constraint on our ability to borrow.
I guess with the new tax on medical care to pay for expanding medicaid, the state has ample money to spend on other stuff.
Phil never pays retail for anything.
His name will be all over it while taxpayers pay a significant share of it.
Wait, can someone help me understand what is going on here?
I read this:
http://www.gazettetimes.com/news/local/osu-weighs-plan-to-buy-elliott-state-forest/article_1950d2ab-4142-5251-95fe-ad27cd3ecbf3.html
And it seems the Elliot forest was already state-owned and generating revenue for us already, annually, for the Common School Fund. When lumber prices took a hit, the State Land Board wanted to sell the annual incoming generating forest for a one-time cost benefit of $220.8 million to a group headed by Lone Rock Timber and the Cow Creek Band of Umpqua Indians.
So now the taxpayers are having to pony up the $100 million in state bonds to “buy” only part of a forest we already own? Why would we want to sell off the goose just because it started laying copper eggs?