Thu March 13, 2014
Road-financing bill hits roadblock in Legislature
LINCOLN, Neb. (AP) — A bill to allow bond financing for Nebraska road projects is hitting a roadblock in the Legislature.
Opponents on Wednesday launched a filibuster to block the measure, which would allow Nebraska to issue up to $200 million in bonds.
Nebraska has used a debt-free, pay-as-you-go system for decades, but supporters say the state could take advantage of low interest rates. Senator Annette Dubas of Fullerton says she introduced the bill to accelerate work on long-delayed projects.
The bill would require a fixed, 5 percent interest rate for bonds, to be issued within two years.
The Nebraska Department of Roads opposes the bill. Senator Ernie Chambers of Omaha calls the legislation a "boondoggle" and has vowed to kill it.