January 22, 2009: Legislative Report #9
Follow the Bond Money
On January 13th 2009 the Minnesota office of Management and Budget *issues a 198 page, $400,000,000.00 bond statement. Below are a couple of the expenses approved in this issuance approved by the **2000 and ***2005 Legislature.
In addition the state has over $2,700,000,000.00 in authorized bond issuances but not expensed yet, some dating back to 1990 over 18 years ago. This is just not acceptable financial conduct by the state. Either expense the bonds and perform the work or cancel the issuance authorization to strengthen Minnesota's bond rating.
**$1,500,000.00 2000 Session, H.F. #8, Chapter 12, Section 14, Title Chapter 492