Politics
3:23 pm
Thu April 3, 2014

Missouri Senate passes $600 million bonding plan

 

The bonding plan would finance millions of dollars in bonds for the improvement of state institutions and facilities for health and education.
Credit Ryan Famuliner / KBIA

A potential $600 million bonding plan for state buildings has passed the Missouri Senate.

The bonding proposal would authorize $200 million of bonds for higher education institutions, $200 million for other state facilities and $200 million to replace aging buildings at the state mental health hospital in Fulton.

The bonds would finance hundreds of repairs and improvements that have been delayed, in part, because state revenues fell during the recent recession.

Supporters of the measure said it's a good time for bonding because interest rates are still relatively low.

The Senate's 25-6 vote Thursday sends the bill to the House.

Some Republicans opposed the measure because they didn't want to increase the state's bonding debt. They said the projects should be paid for with cash.