Budget surplus = bigger bonding bill?
Senate Capital Investments Committee chair says the $876 million budget surplus is likely good news for the size of next year's bonding bill.
Senjem said the surplus "eliminates the question of whether or not we are going to have a bonding bill." He said he had been planning on putting together a $400 million proposal, but thanks to the state's good fortune that could grow by $200 million.
"From the standpoint of bonding, it does give us an opportunity to make some investments at a time when interest rates are pretty low and contracts are coming in very favorably," he said.
So should backers of Rochester's Mayo Civic Center expansion get excited? Not necessarily. Senjem said the focus still needs to be on essentials. For instance, he said a growing number of communities are facing costly water and sewer plant repairs because their systems are collapsing.