I was completely wowed on Thursday night as I walked into Homewood’s Dawson Memorial Baptist Church and saw more than 300 PACT stakeholders at what was the first meeting of the Jefferson Chapter of Save Alabama PACT.

I was honored to have the opportunity to share the stage with three Alabama legislators and one of Jefferson County’s US Congressional Representatives, in an effort to inform and encourage PACT contract holders.

After approximately an hour or more, everyone had listened to an exhaustive dissection of the possible financial remedies for PACT. At this point, one PACT contract holder was recognized to speak, and he stated his appreciation for the time and information shared. However, he also stated that it is his belief that the financial solution to “fixing” PACT is separate from the State giving PACT families its guarantee that all PACT contracts would be honored.  Further, he stated his belief that it is the job of elected officials to find the funding for PACT solvency, and that the honoring of the State’s contractual obligations under PACT should not become a politicized fight over funding among Montgomery special interests.  His statement was met by raucous approval from the audience.

My first statement upon introducing myself, was to tell this PACT contract holder and all others in the audience, that I share his sentiment. Presently, the PACT Board has only guarenteed the contracts of PACT payments until the Spring semester of 2010. Unfortunately, I firmly believe that the permanent financial “fix” for PACT will not be decided by that Spring 2010. I told the audience that the State’s first course of action must be to guarentee to all PACT families that their child’s tuition will be paid. PACT families deserve that assurance which they contracted with the State of Alabama for so many years ago.

Also, I had the opportunity to address the concerns of another PACT contract holder who asked the present political officials whether he should pull his money out of his PACT account and invest it in a 529 Fund, or to place his faith with the State to solve PACT. I took this PACT holder aside and addressed his personal situation. I encouraged him to stand with his fellow PACT holders. This gentleman had only been enrolled in PACT for a few years, and thus had limited funds invested within PACT. However, as the father of two children and the head of a single income family, I most certainly appreciate the value of even a couple thousand dollars. I told him though, that due to the future inflation of tuition rates by the time his child turns eighteen, the amount of funds likely necessary to compensate between the lack of growth in a 529 Fund and the cost of tuition would be more than the amount of money he presently has invested in PACT. Thus, the amount of money his has in PACT – though at risk – is less than what he would have to pay on top of his 529 Fund to afford college tuition. Finally, I told him that I do believe that the State will come up with a solution for PACT within the next year or two, to have faith, and to stay involved with Save Alabama PACT.

As a candidate to become Alabama’s next Treasurer, I greatly appreciate the damage that has been done to the office of Treasurer due to the negligence and uncooperativeness of our incumbent Treasurer. If elected, I will be a diligent servant to the people –  including PACT families – my door will always be open, and I will always be honest and forthcoming when sharing information.

PACT was not just a mismanagement of State investments, it was a mismanagement of the people’s trust. It will be my duty to earn better marks in both regards.