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Alabama senators propose video gambling money for agriculture

Thursday, March 16, 2000 | 3:43 a.m.

Alabama voters in 1998 approved the sale of $52 million in bonds for agricultural projects at Auburn University, Tuskegee University and Alabama A&M University. The bonds have never been sold because of financial problems in the state General Fund, which would have to pay for the bonds.

Sen. George Clay, D-Tuskegee, and Sen. Charles Steele, D-Tuscaloosa, said Thursday they are willing to amend their video gambling legislation to pledge the state tax revenue to financing the bond issues. The original versions of the bills do not earmark the state tax revenue.

The senators estimated video gambling at the two tracks would produce $6 million annually - about $2 million more than needed to make the annual debt payment on the 20-year bond issue.

"This is something we have committed to give that industry," Steele said Thursday.

The senators' legislation would allow citizens in Macon and Greene counties to vote on whether to add video gambling at the tracks. Their bills are pending in the Senate.

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