The Legislature made it a priority to address bonding issues from the 2014 session. The bonds we approved last year will go toward fixing many of these issues, as outlined in Senate Concurrent Resolution 8 and 9, which we approved for our citizens. A great deal of those dollars will be used to upgrade fire alarms, old electric systems and structural weaknesses to make public facilities safer for employees and the citizens who use them.
The bond proposal also includes $12.3 million to renovate and repair the laboratories, classrooms and the exterior of the W.C. Morris Building at University of Central Missouri, $1.3 million to repair the dilapidated roof at the Missouri School for the Deaf, and $1.4 million for upgrades to the Missouri State Fairgrounds. Providing a quality education to students includes creating a safe physical environment where they can learn. I was happy to see these items in the list of projects.
When elected officials discuss the economic outlook of our state, they often praise Missouri’s AAA credit rating. Rarely do they explain why that’s so important. Our bond rating, based on the state’s credit quality, determines the rate of interest our state pays and affects the bonds’ marketability. Maintaining that AAA credit rating, which required hard budgetary decisions, secured Missouri’s ability to issue financially responsible and marketable bonds.
Last year, the Legislature took advantage of our favorable credit rating, and extremely low interest rates, to approve the issuance of an additional $400 million in bonds. This funding will go toward much-needed, and long-overdue, infrastructure projects within the state, including repairs to colleges and universities throughout Missouri.
The state maintains thousands of public buildings and properties. Countless amounts of them are in poor condition due to a lack of adequate funding. The Capitol itself is a state treasure that’s nearly 100 years old. Time has taken its toll though. Water has severely damaged the foundation and there are structural issues that need to be immediately addressed. I personally saw these poor conditions while I served on the Senate Interim Committee on Capitol Improvement Assessment and Planning during 2013.
Additionally, the funds will go to restoring and maintain our numerous state parks. These areas not only provide wonderful recreational space, but also draw a great deal of out-of-state tourists. These visitors support local businesses and support a robust tourism industry in Missouri, an important aspect of our economy. Funding for state parks in the 21st district will include $1.3 million for Arrow Rock State Park, $85,000 for Confederate Memorial State Park, $120,000 for Van Meter State Park, and $2.1 million for Knob Noster State Park.
I was pleased to see that these bonds were authorized in a prudent manner through extensive debate, and will go toward urgent projects. As elected officials, and as citizens, we have a responsibility to maintain these properties, not only for ourselves, but also future generations.
As always, please feel free to contact me or my staff with any questions or concerns at any time. We look forward to hearing your comments and suggestions and trying to answer any questions you may have. You can reach us by phone at 866-277-0882 (toll-free) or (573) 751-2272, or by fax at (573) 526-7381.
Senator David Pearce serves Caldwell, Carroll, Howard, Johnson, Lafayette, Livingston, Ray and Saline counties in the 21st State Senatorial District.
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