Mo. Senate endorses plan for building bonds
Thursday, March 27, 2014
JEFFERSON CITY, Mo. (AP) -- Missouri senators have endorsed a plan that could allow hundreds of millions of dollars of revenue bonds to be issued for improvements at state buildings.
Senators voted 26-7 Thursday to give initial approval to the legislation. It would raise the state's current cap of $775 million on revenue bonds issued by the Board of Public Buildings by an additional $400 million.
Part of that money could go to replace old buildings at a state mental health hospital in Fulton. The rest would help address a backlog of maintenance and repairs at state facilities, including at public colleges and universities.
The bill had been stalled for several weeks in the Senate because some Republicans were opposed to raising the state's debt limit. But they relented Thursday and allowed a vote.
Bonding bill is SB723.
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