Issuing bonds to build a new Fulton State Hospital is a welcome sign.
We support fiscal responsibility in government, but some needs justify prudent borrowing.
A new state psychiatric hospital to replace the 1851 facility is necessary both for treatment of patients and the safety of staff. The project is not unlike the 2004 construction of the Jefferson City Correctional Center to replace the Missouri State Penitentiary built in 1836.
The initial $92 million in bonds for the $211 million complex were issued Wednesday by the Missouri Development Finance Board.
In a news release, the state Office of Administration said the recent reaffirmation of Missouri's AAA credit rating helped ensure an interest rate of 3.4 percent over the life of the 25-year bonds.
Earlier this year, the project won the support of both Democratic Gov. Jay Nixon and the Legislature, where Republicans hold majorities.
The lead design firm for the project will be Parsons Brinckerhoff, a global consulting firm with offices in St. Louis. Construction is expected to begin in the late spring/early summer of 2015 and be completed in 2017.
In the news release, Nixon addressed the scope of the project when he said: "Ensuring access to quality mental health services is a critical priority, and thanks to our commitment to fiscal discipline and spotless AAA credit rating, we're able to replace this aging facility with a modern, state-of-the-art mental hospital that will serve communities in every corner of the state. A new Fulton State Hospital will mean better care for patients and greater safety for employees, and I am pleased to see this project continuing to move forward."
His characterization contains a number of superlatives, but it is not inaccurate.
Advances in society continue to reveal the benefits of diagnosing, understanding and treating mental health issues.
Responding to these concerns is something we must do as individuals, communities and a state.
Construction of a new Fulton State Hospital reflects a commitment by Missouri and by Missourians to address mental health concerns.