Sunday, January 31, 2010

Bond Indebtedness Slight in Oklahoma Study Shows

OKLAHOMA CITY – An interim study held this week by the House Appropriations and Budget Committee shows that Oklahoma has less tax-supported debt than most other states.

The study, requested by state Rep. John Wright, focused on a comparative review of the state’s bond indebtedness and let lawmakers know what debt obligations the state would have in 2010. Interim state bond advisor Tim Martin and Assistant Attorney General Lynn Rogers both spoke at the study.

“The state’s relative bond position was so strong that last year we got a better bond rating,” Wright, R-Broken Arrow, said. “Our adjusted annual payments as a percentage of appropriations is projected to be 3.76 percent in fiscal year 2010.”

Wright noted the importance of understanding the state’s position in regards to bond indebtedness in a tight budget year.

“I thought it was important that we be fully informed of the state’s current economic position, which includes its debt obligations,” Wright said. “Our strong position may give the Legislature additional options when it comes to how we approach budget decisions this year.”
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