The State Bond Commission approved nearly $550 million in financing for school construction, transportation and other capital projects Tuesday. About 80% of the financing approved Tuesday — about $420 million out of $550 million — is focused on education and transportation projects, two major priorities, the Democratic governor said. And with the pandemic curtailing highway and rail travel, transportation projects are progressing with particular efficiency at this time, Lamont added. Connecticut spends billions of dollars annually on capital projects by selling bonds on Wall Street. When tax receipts and other revenues shrink, so does the amount of borrowing on new capital projects the legislature can authorize. The Democrat-controlled legislature is due back to the Capitol later this week for a special session to address election and police accountability issues, but they don’t plan to approve a new revenue schedule — and thereby tighten the borrowing limit — at this time.
https://www.hartfordbusiness.com/article/bond-commission-approves-550m-in-financing-for-capital-projects-but-partisan-debate-over