Gov. Mark Dayton
Governor Mark Dayton this morning unveils his bonding proposal for the next legislative session, and speculation is that it could be well over a billion dollars. Although there have been many variations over the years, one billion dollars has been the traditional target number for bonding bills that pay for state public works projects. Governor Dayton isn’t saying what his number will be, but points to the state’s relatively low bonding debt, plus low interest rates currently available. “It’s penny-wise and pound-foolish not to make the kind of investments that I’m gonna be proposing,” he says. Some predict Dayton will also propose using part of the state’s billion-dollar-plus budget surplus to pay cash for some bonding projects. Yesterday Dayton unveiled one major component of his bonding proposal: 220 million dollars to modernize aging water and sewer systems in Minnesota and protect water quality. Dayton says 11 billion dollars is needed over the next two decades.