Today’s issuance is the second of three expected bond sales related to the Build Missouri initiative, which supports nearly 500 projects in every corner of the state through bond proceeds and other sources. The projects were approved by the General Assembly with bi-partisan support during the 2015 Legislative Session as part of a bonding package.
Over the past seven years, the Governor’s administration has paid down hundreds of millions of dollars in state debt. Based on current projections, after the implementation of Build Missouri, state government will still have lower levels of state-issued bonding debt than when the Governor first took office.
Last week, as a result of a strong record of fiscally responsible budget management, Missouri’s AAA credit rating was reaffirmed by the rating agencies. This allows the state to benefit from low interest rates, and makes long-term capital investments more affordable.