The state legislature last week approved a $649 million capital budget that includes the issuance of about $550 million of general obligation bonds.

Once the budget is signed into law by Gov. Arne Carlson, most of the bonds will be issued over the next two years, according to state Sen. Gene Merriam, a Democratic Farmer Labor member from Coon Rapids, who was the primary sponsor of the bonding bill in the Senate.

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