Missouri House to consider higher ed bond issue
JEFFERSON CITY — Democratic Rep. Chris Kelly of Columbia is teaming up with House Republican leaders to push for a $700 million bond issue to finance construction projects at state colleges and universities.
Kelly’s proposal, HJR32, will be heard at noon tomorrow by the Special Committee on Infrastructure and Transportation. The committee is expected to forward the measure to the full House shortly.
“It’s going to move,” said committee Chairman Steve Hobbs, R-Mexico. “The speaker said move the bill. He didn’t need to tell me twice.”
Hobbs said low interest rates and Missouri’s triple-A bond rating make this an attractive time to issue bonds. Also, the state is nearing the end of payments on construction bonds issued in the 1980s when U.S. Sen. Christopher “Kit” Bond was governor.
House Majority Leader Steve Tilley, R-Perryville, is a co-sponsor of Kelly’s measure, which would require state voters’ approval.
Hobbs said the bonds could be used to fund projects that Gov. Jay Nixon halted when funding was delayed from the Missouri Higher Education Loan Authority.
This is exactly what we need. I can’t borrow money to buy the things I needs so the state is going to borrow money to by the things that they, and I, don’t need.
WoooooWeeeee, let’s borrow some more damn money.
In light of this rate environment though, it does seem to be a good play to borrow at these super low rates cuz in a year or two when inflation pours the gas on, this cheap money will look like a wise move.