Entries Tagged 'Bond Issuance' ↓

Madison County supervisors approved a $33 million bond issue for road projects, but a 4.5 millage may be required to cover the bond.   The millage would be used to cover the deficit budget and bond debt service cost.

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Gov. Strickland is proposing a $1.7 billion jobs package which includes $400 million for local road, bridge, water and sewer projects.  House Speaker Jon Husted is speaking out against the measure based on the amount of interest the bond will accumulate.        

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Massachusetts failed to save enough funds to meet federal matching requirements, and more than $1 billion in federal funds have been placed on hold.

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Assemblyman Mike Feuer would like local communities in Los Angeles to raise their own funds for upgrading the transportation network.  He proposes to lower the bond vote threshold, increase sales tax 1%, and authorize a carbon emissions fee.

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Gov. Pawlenty revealed a 2008 bond proposal that would allot $416 million for transportation projects in Minnesota.

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Gov. Jon Corzine’s plan, which requires approval from the Legislature, relies on sharp toll hikes to repay a proposed $38 billion bond issued by the new agency. The lump sum of money raised from the bond would fund transit projects and immediately retire half the state’s debt.

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County supervisors approved a $33 million bond issue for road projects but will not know until this summer if a tax increase will be needed to cover the bond.

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The short letter — signed by Lt. Gov. David Dewhurst, House Speaker Tom Craddick, Senate Finance Chairman Steve Ogden and House Appropriations Chairman Warren Chisum — recommends that TxDOT borrow another $1.5 billion against future gas tax revenue to bridge a temporary financial tight spot. The Legislature, the letter promises, will make sure that some of the gas tax money now diverted to other, nonhighway-construction needs will be returned to the agency to back the bonds.

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But because of slow growth in tax revenues, Alabama legislators are facing the prospect of cutting back the state budgets for the coming fiscal year. Many legislators responding to the AP survey said they were undecided about a $275 million bond issue, with some concerned about where the money would come from to pay off the bonds.

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Governor Beebe said yesterday that he’ll likely ask voters in 2010 to approve another bond program to pay for interstate improvements.

Beebe said 2010 would be the earliest he would consider asking voters to extend an interstate highway bond program they approved in 1999. Beebe said the bonds would be Grant Anticipation Revenue Vehicle bonds, which pledge anticipated federal highway revenue to borrow money for the road repairs.

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