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4 <br />• All 59 community colleges would receive a minimum of nearly $113 million for <br />repairs and renovations without having to provide matching money. <br />+ 30 community colleges would receive an additional $2$7 million for construction and <br />modernization without the local community being required to put up matching <br />money. There are two reasons for exempting counties from having a match <br />requirement. <br />• The county is considered a low per capita income county; <br />• The county has already spent a great deal of money on community college <br />facilities in the past. <br />By statute, counties are financially responsible for 100 percent of the facility costs for the <br />community colleges. Counties have risen to the challenge but other funding burdens on <br />counties (such as Medicaid, public education, jails) have stretched their ability to pay. <br />• 29 community colleges would split the remainder of the band money, These 29 <br />counties would have to pay a match if they chose to accept the money. But that miatch~ - <br />would be no more than 50 percent. The majority ofcounties would play less than 50 <br />percent. (See,the attached spreadsheet for detailed information.)- <br />. _. _ Will passage of the bond package mean tan increases at the state or lacal level? <br />- _ ... . _ _ -State Treasurer Harlan Bo 1 ~y . <br />yes has examined the issue thorn and sazd that the <br />state would not have to raise taxes to pay o$the bonds. This is because normal. <br />economic growth is expected to continue and. that growth should be mare than adequate <br />-- ~ ~ - <br />-_ _._~. ~ to handle the debt a ' -- <br />P yments. - - - - - - - - -- _... <br />. ~ As for focal taxes, the bond package does not mean an antamatic increase for these <br />- --- reasons: _ - - . _ <br /> <br /> <br /> <br />A county could pay the matching share out of existing resources; .-- <br />Acounty does iiot~need to spend its entire bond allocation, thereby reducing its. <br />match; _ . <br />A county does not have to accept any fixuds requiring a match and could use only <br />those funds not requiring a match. (Remember the repairs and renovation money does <br />not require matching funds from any county); ~ __ <br /> <br />