Gov. Nikki Haley has issued a veto warning to lawmakers over a series of bills that could allow school districts to float bonds in order to pay for the day-to-day costs of operating schools.
In a letter to General Assembly members, Haley targeted three bills, S. 785, H. 4094 and H. 4149, that the new Republican governor said don't abide by basic principles of finance.
"We should not fund short-term operational costs with long-term debt backed by taxpayers," Haley wrote, bolded and underlined, in the letter. "Such financing schemes have led to disastrous consequences in other states like California."
Haley wrote she sympathized with the school districts but could not support further burdening taxpayers.
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The bills would allow the Charleston, Colleton and Florence county school districts to issue bonds to make up for lost state funding. All three bills have passed at least one body of the General Assembly, and both houses have approved the Charleston bill.
- John O’Connor