It's nonsense for legislators opposed to a bonding bill this year to be suggesting our credit rating will somehow be damaged by approving bonding projects.
See this report on our credit. It shows that Minnesota not only continues to get the highest credit rating possible, but interests rates are historically low.
We'll already be saving $20 million in interest costs over the next 20 years on the bonds we recently issued.
The credit markets are also demanding municipal bonds because they are safe and secure. More demand, means even lower interest rates.
Wednesday's editorial details the rationale for doing a bonding bill this year and finally including the Mankato performing arts center project.
We've paid for more of our downtown projects out of our own money than any other city. In fact, even if we get our $14 million this year, we'll still be $66 million behind Rochester, St. Cloud, Crookston, Duluth, you name it.
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