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EDA hears "bonding 101" briefing on how state bonds fund local projects and limits of EDA authority
Summary
A guest presenter gave Dayton's Economic Development Authority a high-level briefing on state bonding: what bonding pays for, the typical 60% legislative threshold, and how an EDA may qualify for direct appropriations but must coordinate with city council and counsel on authority and statutory limits.
A guest presenter identified in the meeting as John gave Dayton's Economic Development Authority (EDA) a high-level overview of how Minnesota's capital bonding works and where an EDA fits into the process. He told commissioners bonding authorizes the state to borrow money for infrastructure and construction projects and that those proposals typically require a 60% vote in both legislative chambers.
"Bonding bills authorize the state to borrow money to pay for infrastructure projects," the presenter said, summarizing the purpose and scale…
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