Governor Bob Holden has warned Missouri school districts, colleges, and universities that they can expect $350-Million in cuts for the current fiscal year unless the Legislature authorizes the tobacco securitization plan by the middle of next month. In a speech to the Missouri School Board Association, Holden said this is the only way to raise the money needed to cover the shortfall. Senate Leader Peter Kinder of Cape Girardeau wants a letter from the Board of Public Buildings – the body which would issue the bonds – showing support for the plan before the Legislature goes along with it. Holden says the drop dead date for agreeing to securitization is February 15th.
