Texas Transportation Revolving Fund Passes Senate: Helps Locals Get Projects Moving
Senator John Carona's Transportation Revolving Fund bill was approved by the Senate today with unanimous support from senators.
According the the bill analysis, $1 billion in Proposition 12 transportation bonds will "provide loans or credit enhancement, or serve as a reserve fund for debt financing or the cost of operation and maintenance," to public and private entities (mainly for building toll roads).
The revolving fund will loan money or finance debt to public or private entities and the money repaid by those entities will provide assistance for other projects. Eventually "money in the fund can be further leveraged by issuing revenue bonds supported by the repayment stream."
The bill will now be sent to the House for approval.
Transportation Revolving Fund Approved Austin American-Statesman Postcards Blog by Mike Ward
Transportation "Bank" Gets Senate Approval Texas Monthly Burka Blog by Patricia Kilday Hart
Click here for more information on SB 1350.
According the the bill analysis, $1 billion in Proposition 12 transportation bonds will "provide loans or credit enhancement, or serve as a reserve fund for debt financing or the cost of operation and maintenance," to public and private entities (mainly for building toll roads).
The revolving fund will loan money or finance debt to public or private entities and the money repaid by those entities will provide assistance for other projects. Eventually "money in the fund can be further leveraged by issuing revenue bonds supported by the repayment stream."
The bill will now be sent to the House for approval.
Transportation Revolving Fund Approved Austin American-Statesman Postcards Blog by Mike Ward
Transportation "Bank" Gets Senate Approval Texas Monthly Burka Blog by Patricia Kilday Hart
Click here for more information on SB 1350.
Posted by Lauren at April 28, 2009 12:19 PM 
Categories: Transportation Revolving Fund, Texas Legislature
Categories: Transportation Revolving Fund, Texas Legislature
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