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Governor Malloy meets with Bond Commission about debt

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January 28, 2013

Connecticut

By Justin Haas

HARTFORD, Connecticut: In the year's first meeting of the State Bond Commission, Senator Scott Frantz questioned Governor Dannel P. Malloy on the state's long-term debt plan.[1]

Malloy responded by informing the commission that the capital budget may increase by up to $1.8 billion this year. He said, "We may be substantially less than that, But for planning purposes, I have no plans to exceed $1.8 (billion) as a maximum. A lot of it will depend on whether certain transportation projects that are greatly needed are ready to go."[1]

He went on to say, "We're now predicting a step-up in school construction, up in the last two years, which were relatively low. There are a bunch of projects that could push that number up to $525 (million), $535 million."[1]

Frantz said after the meeting, "It's a significant increase from what I was expecting to hear in that answer and I find it a little bit curious that the rating agencies would not have a problem with that."[1]

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