Mississippi lawmakers didn't approve any new bond debt in 2012, but they're expected to consider at least a modest package during 2013. How modest may be up to Lt. Gov. Tate Reeves, whose attempt to cut borrowing last year was a key element in the decision to authorize no new debt.
State borrowing can finance a number of needs in Mississippi, including new construction and building renovation for community colleges, universities and state agencies, as well as money to aid new businesses, build new bridges on county roads and buy fire trucks.
Reeves wants the Legislature to pay for some of those needs each year using cash instead of credit. He's also aiming to trim the ability of the Mississippi Development Authority to borrow without legislative approval.
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