Bill allows bonds to fund capital projects

2/25/09 – Bonds could help provide Clarksville with a $1.2 billion Hemlock Semiconductor Corp. plant. Legislation that would authorize Tennessee to use bonds to fund capital projects is headed for a Senate vote. State officials want to use those bonds to pay for infrastructure obligations they made to the company. The measure was unanimously approved by the Senate Finance Committee on Wednesday and is expected to be on the Senate floor on Thursday. The companion bill is being scheduled for a House vote, and if passed, the new law will also make bonds available for a $1 billion Volkswagen plant in Chattanooga.