The Legislature decided to borrow $1.5 billion last year through bonds for transportation projects and the new state prison. Now the Senate has approved a bill that may raise that borrowing by another $10.5 million.
The bill clarifies that all of the $1 billion in borrowing they authorized last year to speed highway projects will go to roads, and another $570 million in bonds OK’d for the new state prison will go exclusively to that project.
Sen. Wayne Harper, R-Taylorsville, said questions had arisen about whether the costs of issuing the bonds — such as hiring bond counsel and use of rating agencies — would come out of the authorized amount, or on top of it.