~ Governor Pawlenty statement regarding the DFL Capital Investment proposal unveiled today ~

Saint Paul – Today, the DFL chairs of the House and Senate Capital Investment Committees unveiled a bonding bill that includes $925 million in general obligation bonds.

In addition, the DFL has spent $60 million in general obligation bonds in the transportation bill and has proposed $233 million in general obligation bonds for the University of Minnesota bioscience initiative. Together, that would bring the state’s general obligation bonding total to $1.228 billion, well over the $885 million available within the 3% debt service limit the state has abided by since 1979. Since $60 million has already been used, the available remaining amount is $825 million.

The following is a statement from Governor Tim Pawlenty regarding the DFL Capital Investment proposal unveiled today:

“This bill is fiscally irresponsible and has misguided priorities. As one example, DFLers fund a number of local projects, including numerous recreation centers, but refuse to build a new nursing facility at the Minneapolis Veterans Home. In addition, their inability to say no led to a seriously bloated laundry list. We’ll be carefully reviewing it and considering our options over the coming days.”