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Budget proposes bonding nearly $930 million of capital projects; administration frames bonding as prudent leverage under AAA rating
Summary
Commissioner Bryson outlined a plan to bond nearly $930 million for capital projects, which would raise annual debt service; administration said the state remains well below the funding board's 6% debt-service ceiling and proposed an annual comptroller debt-capacity study.
Commissioner Bryson presented a capital plan that would use bonding to advance a set of state and higher-education projects and described the debt profile the administration expects if bonding proceeds.
Bryson said the projects proposed for bonding "would total almost $930,000,000 in total debt resulting in $87,500,000 in new debt service for the general fund and $9,200,000 for this facilities revolving fund or…
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