Pennsylvania will issue roughly $1.2 billion of general obligation and state appropriation debt in fiscal 2009 after Gov. Edward Rendell signed off on nearly $3 billion of borrowing to be issued over the next three to five years.

The large bonding initiative, which will support transportation and bridge programs, water and sewer infrastructure upgrades, and alternative energy improvements, among other capital projects, will increase the commonwealth’s borrowing slightly in the current fiscal year, which began July 1.

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