Vote to pass a resolution that, pending approval by voters in the next general election, will amend the Missouri state constitution to authorize the issuance of $700 million in 25 year bonds for a variety of purposes related to institutions of higher education.
-Allows the general assembly to authorize $700 million in bonds for the purpose of rebuilding buildings of higher education institutions (Sec. A).
-Allocates 15% of the bond revenue to public community colleges for land acquisition, building expenses, and other facility related expenses (Sec. A).
-Requires that the State, if unable to pay back the bonds, levy a direct tax on all taxable tangible property in the state (Sec. A).
-Requires the governor to establish a percentage plan for involvement of African Americans, women, and other minority businesses in all state bond programs and for employment opportunities in the state construction building plan. (Sec. A).
NOTE: AN AMENDMENT TO THE CONSTITUTION REQUIRES APPROVAL BY A SIMPLE MAJORITY IN THE HOUSE AND THE SENATE, AND THEN APPROVAL BY A SIMPLE MAJORITY OF VOTERS DURING AN ELECTION.