Senate signed off April 9 on a proposed constitutional amendment that would
permit the Texas Transportation Commission to issue $5 billion of highway
revenue bonds to speed up construction projects.
written by Sen. Steve Ogden, R-College Station, the state could issue up
to $1 billion of highway revenue bonds each year for five years, The
Bond Buyer reported. The debt would be backed by the state's highway
fund, which comprises federal funds, motor fuel taxes and vehicle registration
fees totaling about $10 billion each two-year period.
measure gains approval from the House and Gov. Rick Perry, it would go
before voters in November.