Nixon seeks bonding proposal for building projects

Wednesday, June 17, 2009 | 4:15 p.m. CDT; updated 6:04 p.m. CDT, Wednesday, June 17, 2009

JEFFERSON CITY — Gov. Jay Nixon has embraced a plan to issue bonds for state construction projects.

Nixon sent a letter Wednesday to all 197 Missouri lawmakers asking for their help in developing a specific bonding proposal that could be put before voters.

Nixon cited low interest rates, Missouri's good bond rating and new low-cost financing methods enacted by Congress as reasons why now is a good time for Missouri to issue new bonds.

Earlier this year, the House passed a measure that would have asked voters to authorize $700 million in bonds for college and university buildings. That measure was expanded in the Senate but ultimately failed.

Legislators did approve the use of federal stimulus dollars for some building projects, and Nixon is considering whether to veto that.

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