Missouri is fortunate to operate a variety of state office buildings, higher education facilities and veterans homes.
But, as every property owner knows, maintenance is required to preserve and protect any investment.
When Gov. Jay Nixon last week signed a legislative package of more than $300 million in bonds to repair and renovate state-owned properties, he put the finishing touch on a common-sense initiative approved previously by lawmakers.
Among the $150 million for state buildings:
• Our majestic Capitol will receive $40 million for improvements, including repairing water leaks that have caused stalactites to grow in its aging substructure.
• Missouri's seven veterans homes will receive $33 million to serve aging and disabled military veterans.
In signing the measure, Nixon said: "We need to ensure our veterans receive the best care we can provide, and today I am here to deliver on our promise to them."
• The State Historical Society of Missouri will get $35 million for a new headquarters in downtown Columbia. The new facility will permit display of a larger amount of the collection.
The state's colleges and universities will receive $160 million, including $56 million for the flagship University of Missouri-Columbia.
Nixon touted the state's AAA credit rating, which he said will allow the state to benefit from lower interest rates, making long-term capital investments more affordable.
As an example, he said taxpayers will save $30 million over the life of the bonds compared to a state with an A- rating.
Bonding is borrowing money, and interest - however favorable the rates - must be paid.
But allowing continued deterioration of state properties - including the historic Capitol building - is not a reasonable option.
We commend our elected officials for maintaining and protecting these valuable investments.