The Legislature and Gov. Sam Brownback have swept so much money from the Kansas Department of Transportation – more than $1 billion during Brownback’s tenure so far – that there are concerns about whether the state can complete its transportation projects. But it helps that construction prices are low. “We have historically low pricing, both from our bids from our contractors, as well as our material costs,” KDOT Secretary Mike King told WIBW News in Topeka. Low interest rates also are a significant savings. “We had anticipated borrowing money at 5 1/2 percent,” King said. “We’re borrowing money at 3 percent. We’re also refinancing some of those old bond issues that others issued.” – Phillip Brownlee
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