Gov. Bobby Jindal supports the $325 million borrowing to fund projects in every parish but Orleans.
The debt will be paid off with interest over 20 years from revenue received for registration, license fees and taxes on commercial trucks and trailers.
DOTD will seek to issue three bond sales: $100 million in the upcoming 2012-13 fiscal year, $100 million a year later and $125 million in the third year.
Money for road improvements will be divided for projects under the state transportation department’s priority program.
Post a Comment
