Montana Selling Bonds As Part Of Infrastructure Funding Package
Gov. Steve Bullock announced in a news release Tuesday that the state has sold $52 million in bonds to help pay for major state public works projects.
The money will fund projects like the Romney Hall renovation at Montana State University, an expansion of the Great Falls College Dental Hygiene Clinic and a new Montana history museum in Helena.
According to the news release, the Board of Examiners finalized the sale of the bonds and also approved refinancing $32 million in trust land bonds to get lower interest rates. The refinancing is expected to save the state $7 million.
The bonds are part of the $80 million infrastructure bonding package lawmakers approved after much debate during the 2019 session. It was the first time in more than a decade that the state Legislature passed a massive borrowing plan of this kind.
The bonding package passed by the Legislature also includes approval for sewer, water, bridges and other building projects around the state.