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Deficit dims bonding outlook

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Known as a bonding bill, the Minnesota Legislature normally would pass at least a modest-sized one when it meets. However, even if no new borrowing is authorized for public works projects, the state is over a self-imposed limit for loan interest payments.

The guideline does not allow more than 3 percent of the state budget to be spent on interest.

Gov. Tim Pawlenty said the state already is beyond its credit limit but refused to completely rule out a bonding bill.

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