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Mega Prison Alabama Bond Sale Under $ 200 Million

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The Associated Press

Associated Press

Kim Chandler

Montgomery, Alabama (AP) — Alabama officials build two super-sized prisons on Thursday, despite further declines in bond sales He said he would proceed with the plan. Over $ 200 million shortage in volatile markets and pressure from activists.

The Alabama Collections Institute Finance Authority wanted to sell $ 725 million in bonds for a construction project, but could only sell $ 509 million. was. Bond issuance is part of an important financing of the $ 1.2 billion construction price.

State Finance Officer Bill Poole told reporters that the state wanted to "sell a little more," but authorities were happy with the result. He said the results did not affect the construction and the state still expects to open a prison in 2026. It is more advantageous.

Alabama Governor Kay Ivey called the sale of bonds "an important and positive step in the prison construction process."

"But our work is certainly not complete. We will take steps over the next few months to years to ultimately improve Alabama's criminal justice system. "She said.

State officials blamed the results in volatile markets, but a group of activists and impact investors urged buyers to move away from bond offerings.

"They weren't just missing. Eric Glass, an adviser to Justice Capital, an investment fund that participated in the boycott's call, said: The state faced a volatile market, but said there was some perception among investors that building a boycott was "not a good thing to invest."

"This is a campaign of more than a year centered on the idea that the construction of prisons, whether private or public, shows a lack of creativity. I think it wasn't enough because it was there, "he added. "It shows inhumane and cruel, and we need to start thinking broadly and holistically about what leads to imprisonment and improve them."

Alabama officials said. We are building a new prison to replace the dilapidated facility, seeking a partial solution to the state's long-standing correction problems. The U.S. Department of Justice continues to file proceedings against the state over the state of the prison, warning that the new building will not solve the problem. Construction plan critics argue that the state is ignoring the bigger issue of focusing on buildings: prison staffing and leadership.

The two prisons are located in Elmore and Escambia counties, each holding up to 4,000 prisoners. The facility will replace the old prison that will be closed.

Alabama Appleseed's state-wide organizer, Danas Weeny, is surprised to hear that the state hasn't changed its plans despite a $ 200 million shortfall. Said that. "There are a lot of things you can spend $ 200 million, and I'm very interested in hearing how lawmakers react to demands of hundreds of millions more," he said. rice field.

The Alabama Collections Institute Finance Authority will complete the sale of bonds on July 12. Violence of caution against prisoners. The Justice Ministry said in a previous report that aging facilities contributed to the unconstitutional state, but due to issues such as cultural issues, poor management, corruption and violence, "new facilities alone will not solve". I wrote.

State officials claim that modern facilities are safer for staff and prisoners, and that prison systems help provide better health and vocational education services. "It's very difficult to provide these services in dangerous old facilities," Poole said.

"We need safer facilities for the benefit of both imprisoned people and staff. It's very difficult to hire staff to work in dangerous situations," Poole said. ..