Gov. Brad Henry will sign a bill today to help fund the endowed chair program, which helps bring the best and brightest faculty to Oklahoma universities to teach students and engage in cutting-edge research.

The bill authorizes the restructuring of an ongoing bond issue to generate additional resources to help match private donations to the program.

“By passing this bill, the legislature has demonstrated the strong commitment to the education of our students,” OU President David Boren said by e-mail. “The quality of our faculty is the foundation upon which academic excellence is built, benefiting our students by bringing increased vitality into the classroom.”

Boren said endowed professorship positions allow OU to attract, retain and reward talented faculty members who take existing academic programs to a new level and create new centers of excellence.

The bill states that Oklahoma may use bonds, notes and other obligations for the purpose of refinancing or restructuring the outstanding obligations authorized under this section.

A special signing ceremony will take place at 1:30 p.m. at the Oklahoma Capitol.

Boren is unable to attend because of prior commitments out of the state, OU spokesman Jay Doyle said.

The bill was authored by Oklahoma House Speaker Chris Benge, R-Tulsa, and Senate Pro-Tempore Glenn Coffee, R-Oklahoma City. In the House of Representatives, the bill was declared an emergency, which would put the measures of the law into effect immediately after the governor signs it into law.