Bonds Away in Saint Louis County
According to the Post-Dispatch, St. Louis County is considering a $120 million bond issue to address infrastructure needs. This comes as the county’s Blue Ribbon Capitol Investment Commission is supposed to wrap up its findings and issue a report shortly. My main question is whether or not another shoe will drop. Sure, it is a big bond issue, but St. Louis County has a great deal of bond capacity capable of being used — it is currently just using about 3 percent of its allowable bonding. If this bond issue is the primary way they are going to address these infrastructure issues — like a new Family Courts building, for instance — then this should be a good plan. If an additional tax hike proposal comes down the chute in a few months (on top of the Metro tax proposal), I won’t necessarily feel this way.
For your reading pleasure, here is a copy of the testimony I provided to the Blue Ribbon Commission about these issues last month (ignore the date on the page, that’s just when we finally got around to putting it online).