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MMB presents February debt-capacity forecast; trunk highway authorizations leave substantial unsold balance
Summary
Minnesota Management and Budget presented a February debt-capacity forecast showing $8.4 billion in outstanding state debt and about $2.5 billion in previously authorized but unissued debt. House fiscal staff said a large share of trunk-highway bond authorizations remain unsold and can affect the third debt guideline on repayment pacing.
Minnesota Management and Budget presented the February debt-capacity forecast to the Capital Investment Committee on March 18, showing the state had about $8.4 billion in outstanding tax-supported debt and roughly $2.5 billion in previously authorized but unissued debt at the time of the report.
Assistant Commissioner Jen Hassimer walked members through the state’s three capital-investment guidelines. Guideline 1 limits net tax-supported debt to 3.25% of state personal income; guideline 2 limits total authorized debt (sold and unsold) to 6% of personal income; guideline 3 requires that no less than 40% of…
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