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· All 59 community colleges would receive a mln~rnum of nearly $113 m~llion for <br /> repairs and renovations without having to provide matching money. <br /> <br /> · 30 eornrmm~ty colleges would receive an additional $287 rnHlion for con,traction and <br /> modernization without the local community being required to put up matching <br /> money. There are two reasons for exempting counties from having a match <br /> requirement. ' <br /> <br /> · The county.is considered a low per capita income county; <br /> <br /> · The county ha.q already spent a great deal of money on community college <br /> <br /> facilities in the past. - ' <br /> <br /> By statute, counties are financially responsible for 100 percent of the facility costs for the <br /> Commnnlty colleges. Counties have risen to the challenge but other funding bi'dens on <br /> counties (such as Medicaid, public education, jails) have stretched their abilit~ to pay. <br />.... - · 29 community colleges would split the remainder of the bond money2 Th6~e 29 <br /> <br /> counties would have to pay a match if they chose to accept the money. Bu~t that match <br /> would be no more than 50 percent. The majority of counties would play less than 50 <br /> percent. (See the attached spreadsheet for detailed in¢o~mafion.) <br /> <br /> Will passage of the bond package mean tax increases at the state or local level? <br /> <br /> State Treasurer Harlan Boyles has examined the issue thoroughly and said that the <br />--- state would not have to raise taxes to pay off~e bonds. This is because normal <br /> economic growth is eXPected to continue and that growth should be mb~'d~ adequate <br />......to h~udle ~' debt payments. ' ' "' , - __ - <br /> As-fO~ local taxes, the bond package does not mean an a~ttomafic incre~e'Tor these <br /> <br /> " reasOll~:- ' ' ' " ' '" ...... <br /> · A county could pay the matching sh~,~ out'o.fcxisting' resources; .. <br /> · A county does not need to spend its entire bond allocation, thereby, reducing its <br /> <br /> match; ...... . .- ~-. <br /> · A county does not have to accept any funds requiring a match and could use only <br /> those funds not requiring a match. (Remember'the repai/s and r~novation money does <br /> not require matching funds from any county); ":: <br /> <br /> <br />