Connecticut Panel Authorizes Some Capital Borrowing

Matt Dwyer
September 17, 2019 - 6:04 pm

HARTFORD, Conn. (AP) — A state panel has released millions of dollars in borrowing for various capital improvement projects around Connecticut after months of no authorizations.

Democratic Gov. Ned Lamont, who chairs the State Bond Commission, acknowledged Tuesday that "a lot less" bonding is being authorized this year, compared to past years. But the new governor says "that's on purpose," noting how his "debt diet" for Connecticut has been viewed favorably by bond-rating agencies.

Tuesday's commission meeting was only the third held since Lamont took office in January. The panel has traditionally met monthly.

Funding was approved for bridge repairs, assistance to homeowners with crumbling foundations, improvements to prisons and information technology upgrades.

Meanwhile, Lamont says he's still negotiating a new two-year bonding package with lawmakers that will include long-awaited infrastructure aid to municipalities.