St. Louis Public Radio News
4:26 pm
Thu April 17, 2003

MO Senate Passes Another Bond Issuance Measure

Jefferson City, MO. – The Missouri Senate has sent the House legislation to let the state sell as much as $100 million dollars in bonds to help make payments to the state's unemployed.

The measure is an alternative; it lets the state issue bonds through banks rather than the federal government to cover shortfalls in the unemployment fund.

Federal law requires states to borrow money to prevent a disruption in benefits. Missouri has requested to borrow up to $100 million dollars from the federal government to pay jobless benefits last month and this month.