Oklahoma Gov. Brad Henry has signed a bill that authorizes the restructuring of a 2006 bond issue providing matching funds for endowed chairs at state colleges and universities. The state had planned to issue another $100 million in 2009, but debt service on the new bonds was not appropriated by the Legislature.
Treasurer Scott Meacham said the measure, HB 3031, would restructure $34.6 million of the bonds issued in 2006 by extending the term by another five years. That would allow the money appropriated for debt service on the 2006 bonds to also be used for additional bonds.