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House approves $87M bond issue

By Sara Janak

This article was published May 28, 2015 at 3:13 p.m.

the-arkansas-house-convenes-on-thursday-may-28-2015

The Arkansas House convenes on Thursday, May 28, 2015.

The Arkansas House on Thursday unanimously gave final approval to a Senate bill that would authorize more than $87 million in state bonds to support a Lockheed Martin effort to obtain a defense contract.

The House voted 90-0 to pass Senate Bill 6.

Lockheed Martin's Camden facility is competing with companies based in Indiana and Wisconsin for a contract to build joint light tactical vehicles for the Army and Marine Corps.

Gov. Asa Hutchinson and lawmakers are hoping the bond issue will position Lockheed Martin to secure the contract, which state officials predict will retain more than 550 jobs while creating more and bolstering the state's economy.

The bonds will not be issued if Lockheed Martin does not win the contract.

The Senate earlier on Thursday, the third day of a special legislative session, passed House Bill 1003, an identical measure.

Both bills now head to Hutchinson to be signed into law.

See Friday's Arkansas Democrat-Gazette for full details.

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