LINCOLN, Neb. (AP) — Nebraska lawmakers have rejected a proposal to allow roads projects to be financed with bonds.

Lawmakers fell short Thursday of the votes needed for final approval of the measure, which would allow Nebraska to issue up to $200 million in bonds at a maximum fixed interest rate of 5 percent. No bonds could have been issued after June 30th, 2017.

Senator Annette Dubas of Fullerton, chairwoman of the Transportation and Telecommunications Committee, says she introduced it to accelerate work on long-delayed projects.

Several senators expressed opposition to taking on the debt, and wanted to keep the pay-as-you-go system currently used in the state.

The bill is LB1092.

  by  London looks