Minnesota governor authorizes $1 bln funding for projects

Tue May 20, 2014 5:15pm EDT

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May 20 (Reuters) - Minnesota Governor Mark Dayton on Tuesday signed into law legislation to finance more than $1 billion in capital improvement projects with bonds and cash.

The measures authorize $846 million of general obligation bonds and allocate $200 million in cash for dozens of projects for universities, public safety, transportation, economic development and others.

A state spokesman said plans for selling the bonds were just in the beginning phase.

(Reporting By Karen Pierog; Editing by Mohammad Zargham)