MN bonding bill could hit new record highs

A record $5.2 billion dollars in bonding requests currently on the table for the 2022 Minnesota Legislature.

The “ask” by state agencies and local governments brought the House Capital Investment Committee to northwest Minnesota this week to see some of the proposed projects first hand.  Those projects range from roads and bridges to sewer systems…airport improvements…and ballpark renovations.

Committee Chair Representative Fue Lee says there’s a lot of need out there.  “Right now we are in a good financial situation.  This past month Minnesota OMB was able to sell bonds at 1,78% rate.  We have the ability to take on more debt.”

In 2020 Governor Walz signed a record $1.87 billion dollar bonding bill.  Lee says he would support an even higher tally next year.  “If you ask me I would advocate for anything over $2 billion dollars.”

The committee made stops in Moorhead…Detroit Lakes…East Grand Forks…and Bemidji.