Senate introduces bonding proposal

Senate introduces bonding proposal Click to Enlarge Photo:

May 5, 2014 at 9:58 am

ST. PAUL, Minn. (AP) — The Minnesota Senate's proposal for publicly backed construction projects totals more than $1.1 billion in combined borrowing and cash-financed projects.

The proposal released Monday calls for borrowing of $846 million and about $200 million in cash from the state's surplus. About a quarter of it would go to state colleges and universities for new buildings or renovation of existing structures.

There's also money to build out the new state park at Lake Vermilion, to finish restoration of the state Capitol, to repair local bridges, to press ahead with a major water pipeline in southwestern Minnesota and to renovate civic centers in a few cities--including St. Cloud.

Majority Democrats need some Republican votes to meet a three-fifths passing threshold.

The House has yet to vote on its version, but could this week.

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