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Page 6 · column 4 of 6 · from the scan, no model involved
THERE ARE a number of priorities that I was interested in, including additional appropriations for community mental health services, which were made, and additional appropriations to assure that local libraries do not receive less state support than they received in the last budget, which were also made. Overall the budget was increased by approximately 20 percent and the increases for higher education and public education were increased by approximately the same percentage.
On the possibility of having the state own and operate major race tracks where pari-mutuel betting would be allowed, some question has been raised about the obligation of the state to expend money for such race tracks. This would not be the case under the proposals made to the legislature because the race track would be owned by an authority created by law which would sell revenue bonds to build the race track and these bonds and the interest on the bonds (which would be tax exempt) would be paid for only from the revenues and properties of the race track facility and no funds from tax revenues would be available for this purpose.
OPERATING expenses would be paid only from the income of the race track facility. This financing arrangement is the same as is used for many revenue
97.3%