A BILL TO BE ENTITLED AN ACT TO STRENGTHEN THE ECONOMY THROUGH STRATEGIC TRANSPORTATION INVESTMENTS.
Amends GS 136-18 to give the Department of Transportation the power to issue bonds or other eligible debt financing instruments to finance highway projects using state transportation appropriations to pay a portion of principal, interest, and related debt issuance costs. Caps the annual principal and interest of such debt at $300 million of the expected average annual state revenue shown for the period in the most recently issued work plan.
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