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04.16.2009 1:31 pm

Mo. House approves higher ed bond

St. Louis Post-Dispatch
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JEFFERSON CITY — The Missouri House of Representatives approved a $700 million higher education bond this morning.

From the AP story:

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 the 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.

Because it is a resolution, the issue would bypass the governor’s approval and go to a vote of the people.

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