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One old-time financing method could give budget-squeezed governmental agencies needed capital flexibility to immediately pay for infrastructure repairs—but the surety industry, contractors and lenders would have to modify their business models first, says broker executive Geoff Heekin.

Heekin, the Chicago-based managing director of the construction-services group at Aon Risk Solutions, notes the American Civil Engineers Society estimates the cost of needed U.S. infrastructure repairs at $2.2 trillion.

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