It’s been shaken and stirred, more like a snow glob than a martini, but it looks as if a revided bonding package is on its way to Rell, Jodi Rell to sign. From the Courant:
The bill authorizes borrowing $2.9 billion in general obligation bonds for fiscal years 2008 and 2009, plus an additional $950 million in bond authorizations for major renovations and improvements to the Connecticut State University campuses. The $2.9 billion covers everything from local school construction projects to farmland preservation.
It marks a $200 million reduction from the bonding bill Rell vetoed. At the time, Rell said the bill was too expensive. Democrats, however, criticized her veto, saying she already could decide which projects get funded because she sets the agenda for the State Bond Commission, which ultimately distributes the money.
The impasse between Rell and lawmakers over bonding has dragged on since the legislature ended its regular legislative session in June. Since that then, some municipalities, including the state’s three largest cities, have had to seek short-term loans to cover the cost of continuing school construction projects.
This revised bonding bill includes $2 million to help cities and towns recoup any additional interest costs and other expenses stemming from the funding delay.
Norwalk, through the collective efforts of the Norwalk delegation fared okay. It looks like $3,005,000 is approved for flooding repairs, NCC will get $450k for roof repairs and Stepping Stones will get $400k.
Commuters will be pleased to hear that the $1 surcharge per ticket is being scrapped too.
I’m not sure if the Reed Street extension project made the cut, but am checking on it.
State Rep Chris Perone-D said, “The entire Norwalk delegation worked very diligently to make sure that Norwalk did not lose out while last minute funding cuts were being proposed. It has to be a group effort to preserve funding projects, with each side working with its leadership to do what’s best for Norwalk.”
Sources close to the Governor have indicated that she will sign the bill. The Courant is reporting that Senator Joan Hartley-D Waterbury is pleased with the new details and checks to the spending package concerning the !0-year plan to renovate UCC campuses.
source: Courant, Senate Unanimously Passes Overdue Bonding Bill, By The Associated Press, October 30, 2007
