Gov. Perry Signs Texas Transport Bill, Presaging Big Issuance

Albanese, Elizabeth
June 2003
Bond Buyer;6/23/2003, Vol. 344 Issue 31662, p7
Trade Publication
Texas governor Rick Perry signed a sweeping transportation bill that could put the state on the road to heavy debt issuance for highways, railways and toll roads. The legislation creates a revenue stream for the hitherto unfunded Texas Mobility Fund and calls for a bond referendum in September 2003 that would allow the state to have as much as $ 3 billion of general obligation highway debt outstanding at any given time. If voters approve the proposal, the Texas Department of Transportation, for the first time in its history, would be given authorization to issue general obligation bonds.


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