Lipscomb University - Tax Exempt Bonds

Tax Exempt Bonds

Some academic buildings were built with tax-exempt municipal bonds, and, because Lipscomb is a Christian school, this led to an extended lawsuit on the basis of whether or not a private religious institution is allowed to use public bonds. This case was debated for many years and ultimately made it to the Supreme Court.

The court upheld the decision of the lower court, that, plainly stated, the government could not withhold public bonds based on Lipscomb's religious affiliation. However, one of the stipulations for receiving public funding was that these buildings cannot have religious classes taught in them. For example, no Bible classes are taught in the McFarland Hall of Sciences; however, the rule about excluding Bible classes does not apply to Ward Hall, even though it is attached to McFarland Hall. Construction of Ward was funded through private donations. This decision has allowed other private, religious universities to pursue public funding for capital projects.

Read more about this topic:  Lipscomb University

Famous quotes containing the words tax, exempt and/or bonds:

    Change of fashion is the tax levied by the industry of the poor on the vanity of the rich.
    —Sébastien-Roch Nicolas De Chamfort (1741–1794)

    But grant, the virtues of a temp’rate prime
    Bless with an age exempt from scorn or crime;
    An age that melts with unperceived decay,
    And glides in modest Innocence away;
    Samuel Johnson (1709–1784)

    Oh! I have slipped the surly bonds of earth,
    And danced the skies on laughter-silvered wings ...
    And while with silent lifting mind I’ve trod
    The high, untrespassed sanctity of space,
    Put out my hand and touched the face of God.
    John Gillespie Magee (c. 1922–1941)