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Bill would let Public Works Board issue bonds to finance projects, capping indebtedness at $4 billion
Summary
House Bill 20 21 would authorize the Public Works Board to issue its own bonds, payable from a special fund rather than state general‑obligation debt, with a $4 billion maximum indebtedness and a requirement for a biennial public‑works infrastructure plan and reporting to the legislature.
The Capital Budget Committee on Feb. 25 received a briefing and public comment on House Bill 20 21, which would authorize the Public Works Board to issue bonds to finance public‑works infrastructure projects and change existing appropriation rules for the Public Works Assistance Account.
Staff explained that under the bill the Public Works Board could issue bonds in its own name and repay them from a special fund created by the board; those bonds would not be obligations of the state and would therefore not…
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