Paul Coverdell: “But currently, public schools can use tax-exempt bonds for construction. I believe that I can conceptually characterize…”

“But currently, public schools can use tax-exempt bonds for construction. I believe that I can conceptually characterize Senator Graham's interest in that he wanted to add to the category or the function that allows funding for airports where you could have a private company do the construction for the public system for the public good and lease the facility to the public school district after a certain period of time, which would follow into ownership. Senator Graham's objective was to create an extended ability for public school systems to have financing for the construction of their schools. So he is basically expanding the capacity for public school districts to fund construction of the new schools. The construct of the amendment caps that facility because of the sums of money that are available, and it also has the facility to aid and abet large growth districts.”