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.^.L^~ E .O~LtS February 2, 1987 3~ ~. s.L,ssu. Y sT.[i. NENORANDUM TO: County Commissioners Chairmen FRD~I: Harlan E. Boyles, State Treasurer SUBJECT: Financing Public School Construction You are familiar with the plan announced by the Governor to ask the General Assmbly to authorize a statewide referendum on the question of issuing State bonds to establish a Public School Facilities Loan Fund. As State Treasurer, I have fully and openly endorsed the plan because I be!;eve that it gives us a once-in-a-lifetime "window of opportunity." As an ex-officio member of the State Board of Education, I am cognizant of the financial challenges that face us at the State level, and as Chairman of the Local Goverment Commission, I am keenly aware of the financial challenges that face us at the county level. For these reasons, I want to ask you to support the plan and to urge its adoption by the General Assembly. You can support the plan by your personal attention to the statewide school facilities survey now underway and conducted by the Division of School Planning of the Department of Public Instruction. I hope that you have been deeply involved in the survey because of its importance to future legislative action and also because your board of cm~missioners will have a vital role to play in v,~atever action is to be taken as a result of the survey. The legislation to be proposed, as I understand it, does not purport to establish the only avenue available to the counties. It provides an alternative. Because of interest expressed in alternatives, I have written a review of alternative ways to finance public school construction costs, and am enclosing a copy for your information. You may wish to initiate communication with your legislators before convening of the 1987 session in February. Without question, no matter how good the idea, it won't fly without favorable action by the General Assembly. We stand ready to respond to yOur concerns, or to any questions you may have as to how the plan might work, or to how it may help your county.