Last week’s Capitol Bulletin explained that Oklahoma’s balanced budget has an asterisk because of bonded indebtedness as a vehicle for deficit spending.  I was critical of what I considered to be “rogue hypocrisy” with a proposed $200 Million Bond issue for repairs at the State Capitol complex in the wake of tall talk about a billion dollar income tax cut.

 Are the projects which would be included in the proposed bond needed?  Yes.  But I find it intellectually dishonest for legislative leaders to propose giant tax-cuts on one hand and deficit spend with the other.

 The purpose of this column is to lay out the type of scenario in which a bond proposal may be an appropriate option.  For example, a bond package for a long-term concern that is coupled with private sector fundraising creates a public-private partnership that can yield a very positive outcome.  The project may stir the economy; it may directly benefit Oklahomans; it may attract tourism to the State; and it may even be the fulfillment of a commitment made by the State legislature.

 This is the scenario presented by the somewhat embattled American Indian Cultural Center which is about halfway constructed near the Oklahoma River in Oklahoma City.

 Originally the American Indian Cultural Center and Museum was created by the legislature in the early 1990’s.  Since inception the State has already spend approximately $60 Million and approximately $40 Million has been privately raised in an effort to match a final State investment to finish the project and fulfill a legislative promise made nearly two decades ago.

 The Center presents a situation where it would be foolish for the State of Oklahoma to walk away after the expenditure of over $60 Million taxpayer dollars.  But the bottom line is this:  The legislature made a promise and needs to honor its words.  The American Indian Cultural Center will be a benefit to our state as tourists from all over the world visit Oklahoma to learn about Native American culture.

Please let me hear from you on this or any matter pending before the legislature.  I can be reached at bensherrer@okhouse.gov or 800-522-8502. Until next week, God bless you.