TITLE

Washington Governor Ready to OK $4.2B Transportation Plan

AUTHOR(S)
Williams, Rochelle
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/29/2003, Vol. 344 Issue 31624, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Washington governor Gary Locke is expected to approve a new 4.2 billion dollar transportation plan that calls for the issuance of 2.6 billion dollar of general obligation bonds over 10 years. The state expects to raise extra revenue through a five cent increase in the states 23 cent motor vehicle fuel tax. In addition to the sales tax surcharge and fuel tax hike, the plan calls for a 15 percent increase in gross-weight fees for trucks. The transportation plan includes three bills — one that authorizes the bonds, one that imposes the fuel tax increase, and a third that allows the state Department of Transportation to spend the funds for the projects. The funding will be used to provide road safety improvements, reduce traffic congestion, and aid in the construction of projects statewide.
ACCESSION #
9722812

 

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