April 8, 2013 / 6:21 PM / 5 years ago

Minnesota governor proposes $720 mln GO bonds to fund projects

April 8 (Reuters) - Minnesota Governor Mark Dayton proposed an $812 million capital improvement plan on Monday that calls for $720 million of state general obligation bonds.

“My proposals will put thousands of Minnesotans back to work throughout our state,” the Democratic governor said in a statement. “It gives priority to projects that are ready to go.”

The continued restoration of the state capitol is one of dozens of projects in Dayton’s plan, which includes an additional $28.3 million of bonds for state universities.

The proposal also calls for the Minnesota Housing Finance Agency to sell $30 million of bonds backed by annual state appropriations to fund the acquisition and rehabilitation of foreclosed properties.

The plan requires legislative approval. Dayton proposed a $903 million bond bill last year.

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