Posted on December 13th, 2007 No Comments »
Virginia Governor Tim Kaine has proposed that the state issue $1.65 billion in bonds to pay for construction and renovation at the state's college's and universities, according to the Chronicle of Higher Education.
The bond package will be part of the two-year state budget proposal the governor is scheduled to announce Monday. That means it must be approved by the Virginia General Assembly first and then presented to voters as a referendum in November. Five years ago Virginia voters approved a similar bond referendum for $846 million with over 70% of those who went to the polls voting in favor of it.
The single biggest portion of the money wold go to Virginia Tech. Tech would get almost $118 million out of the bond. Of that, $59 million would go for construction of medical school in Roanoke, Va.
Among the other funding:
- The University of Virginia would get $115 million from the bond.
- Virginia Commonwealth University would get $105 million.
- George Mason University would get about $105 million.
- James Madison University would get almost $97 million.
- Old Dominion University would get just over $87 million.
- The College of William & Mary would get $84 million.
- Norfolk State would get $79 million.
- Christopher Newport University would get about $77 million.
- Virginia State University would get about $73 million.
- Radford University would get about $71 million.
- Virginia Military Institute would get $35 million.
Details of the proposal are available online.
Did you enjoy this article?