We are among those who believe that the lifting of the cap on KDOT bonding is (1) a way to move money we don’t actually have into the general fund to cover state expenses until after the 2016 elections, and (2) bad economic policy for a state.
“Last week, Gov. Sam Brownback indicated that he anticipates no budget issues in the coming legislative session, despite months of shortfalls in projected tax revenues.
“‘Those puzzling comments make sense now,’ [Rep. Melissa] Rooker said. ‘If you have that bonding authority, that’s the answer for how you will skate through this session without major difficulty.'”
Read more here: http://kcur.org/post/has-kansas-maxed-out-its-bank-kdot-credit-card#stream/0
Here’s the information on KDOT issuing a record $400 million in bonds: http://cjonline.com/news/2015-12-15/kdot-issues-record-400-million-bonds-exceeds-previous-debt-cap