Bond Commission To Consider $350M Road Borrowing
BATON ROUGE, La. (AP) — The Bond Commission is considering a $350 million, multi-year borrowing plan to repair and upgrade rural roads across Louisiana.
The money panel is scheduled to vote on the bond sale proposal Thursday.
If the Bond Commission signs off on the details of the borrowing plan, the first round of projects will be spread across 37 parishes, according to a list provided by Gov. Bobby Jindal's administration.
The dollars will pay for construction on roads not eligible for federal matching dollars in the highway program.
The debt will be paid over up to 22 years with money from registration, license fees and taxes on commercial trucks and trailers.