Gov. Rick Scott, who has touted cutting the state’s borrowing by $2.5 billion since taking office, reversed field Tuesday and joined with fellow Cabinet members in approving a $285 million bond issue for construction at schools, colleges and universities.
The approach was set in the state’s $82 billion budget by lawmakers during the legislative session which ended in March.
Unlike earlier years in his administration, when he threatened to veto any increase in red ink, Scott went along with the borrowing in signing the budget.
It’s the first time since 2011 that the state will issue new school construction bonds. Bond action since then has mostly focused on refinancing, which has saved the state money.