The Republican legislators in North Dakota proposed a new $1.1 billion bonding package for infrastructure projects, planning to use proceeds from oil and gas to pay off part of the bonds within the next two decades, Associated Press reports . The North Dakota Legislature’s bonding proposal adds to Governor Doug Burgum’s $1.25 billion bonding proposal from December as part of the 2021-2023 budget proposal. The executive budget proposes a $1.25 billion bonding package to support much-needed infrastructure projects – paid for with reliable Legacy Fund earnings, Republican Governor Burgum said last month. The Legacy Fund receives 30 percent of the oil extraction tax distribution in North Dakota. The $1.25 billion bonding proposal would not raise taxes or rely on tax revenues to retire the bonds, instead using a portion of earnings from the state’s Legacy Fund, Governor Burgum said in his 2021 State of the State Address earlier this […]