Gov. Tim Pawlenty has scheduled a news conference for 2:30 p.m. today and is expected to reveal how he'll deal with a $925 million bonding bill that has passed both houses of the Legislature.
Pawlenty has said that the size of the bill is too high. He can veto the bill entirely, use his line-item veto power to remove certain projects or sign it into law.
Pawlenty has said it needs to be closer to $825 million. The dispute focuses on whether the $925 million in long-term borrowing would violate a state guideline that limits general obligation bonds to 3 percent of the state's general fund.
The bill passed the House 90-42, which would be just enough votes to override a governor's veto. Senate approval came on a 57-10 vote.
The big winners in the measure include the University of Minnesota and the Minnesota State Colleges and Universities system. The U would receive $131.1 million and MnSCU $208.4 million. In addition, the University of Minnesota would be authorized up to $233 million in revenue bonds for the university's biomedical science research facilities.
The bill also funds $38 million for expansion and improvements of the Duluth Entertainment and Convention Center, and $70 million for the Central Corridor light rail line linking downtown St. Paul and Minneapolis. There is also money in the measure to study high-speed rail from St. Paul to Chicago and to study intercity passenger rail service between Duluth and the Twin Cities.
But the bill does not include funding for buying property for a proposed Lake Vermilion state park, a pet project of Pawlenty's.
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