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Article: North Dakota; Despite a Surplus, a Bias Against Bonding.
- Article from:
- The Bond Buyer
- Article date:
- March 21, 2005
- Author:
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North Dakota earned a rating upgrade this past year for its conservative fiscal management, a philosophy that may prompt reluctance by some legislators when they consider several bond initiatives this session, including a plan for the issuance of up to $800 million for electricity development.
Such sensitivity to new debt last year prompted officials to turn instead to the Bank of North Dakota, the only state-owned bank in the nation, to fund some projects. Gov. John Hoeven rejected the original plan to issue bonds to fund his Centers for Excellence, which combined university resources and private investments to promote technology. Instead, Hoeven turned to the ...