Posted on Wed, Oct. 07, 2009
The Associated Press
JEFFERSON
CITY | Missouri highway officials have approved the last piece of
financing for a $2 billion road plan authorized by voters five years
ago.
The Missouri Highways and Transportation Commission gave the go-ahead Wednesday to sell $300 million of bonds on Oct. 27-28.
The bonds are being issued under a 2004 constitutional amendment that
redirected vehicle sales taxes to the highway department from general
state revenues. The $2 billion road plan is expected to cost $3.1
billion to pay off by 2029.
Highway commissioners are selling bonds now to take advantage of low interest rates.
Last month, they sold $600 million of bonds to finance the repair or
replacement of hundreds of bridges. Those bonds are to be repaid with
federal road funds from 2011 to 2033.
Posted on
Fri, October 9, 2009
by Crystal Drwenski