Alabama bond sale for mega prisons falls $200 million short

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MONTGOMERY — Alabama officials said Thursday that they will move forward with plans to build two supersize prisons despite a bond sale falling more than $200 million short amid a volatile market and pressure from activists.

The Alabama Corrections Institution Finance Authority hoped to sell $725 million in bonds for the construction project, but was only able to sell $509 million. The bond issue is a key funding piece for the $1.2 billion construction price tag.

People are also reading… “Our job certainly is not done, however, and we will continue to take steps in the coming months and years to ultimately improve Alabama’s criminal justice system,” she said. “I think it fell short because this has been a year-plus campaign around, uplifting and centering the idea that building prisons, whether private or public, shows a lack of creativity," he added. “It shows inhumanity and cruelty, and we need to start thinking broadly and holistically around the things that that lead to incarceration and improve those.”

 

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