House passes bill to spend cash, not bond money

The state would spend $72.6 million in cash on various capital projects under a bill approved Friday by the Mississippi House.

The move appears to concede to Lt. Gov. Tate Reeves’ wish that Mississippi begin paying for some needs out of its ongoing budget instead of borrowing through bonds.

Last year, Reeves wanted to borrow $73 million and pay for $50 million in cash. House members wanted to borrow substantially more.

WJTV
1/14/13