- Associated Press - Wednesday, March 12, 2014

LINCOLN, Neb. (AP) - A bill to allow bond financing for Nebraska road projects is hitting a roadblock in the Legislature.

Opponents on Wednesday launched a filibuster to block the measure, which would allow Nebraska to issue up to $200 million in bonds.

Nebraska has used a debt-free, pay-as-you-go system for decades, but supporters say the state could take advantage of low interest rates. Sen. Annette Dubas of Fullerton says she introduced the bill to accelerate work on long-delayed projects.

The bill would require a fixed, 5 percent interest rate for bonds, to be issued within two years.

The Nebraska Department of Roads opposes the bill. Sen. Ernie Chambers of Omaha calls the legislation a “boondoggle” and has vowed to kill it.

__

The bill is LB1092

LOAD COMMENTS ()

 

Click to Read More

Click to Hide