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Missouri House approves $700 million college bond package

Thursday, April 16, 2009 | 11:54 a.m. CDT

JEFFERSON CITY — Missouri House members have approved legislation that would issue $700 million in bonds to pay for college building projects.

The legislation is designed to cover the top building needs at every Missouri public four-year and two-year school. The funds could be used for building additions, acquiring land as well as planning, furnishing, equipping and landscaping the structures.

The House voted 131-28 Thursday to pass the measure. It now goes to the Senate, but also would need to be approved by voters.

Sponsoring House member Chris Kelly, a Democrat from Columbia, says the timing for the bond package is perfect because interest rates are low and it would spur construction jobs. But critics question the wisdom of the state taking on more debt.

 


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