Texans to decide whether state can use bonds to build roads

| Monday, September 15, 2003

Saturday, Texas voters will decide whether their state can build highways using bond money, The San Antonio Express-News reported Sept. 10.

Up till now, all highways in the state have been built on a cash payment basis. However, Texas, like most states, is suffering a budget crunch, and can only fund a third of the projects it now has planned, the newspaper reported.

Saturday, residents will vote on Proposition 14, a measure that would allow the Texas Transportation Commission to issue up to $1 billion a year in bonds to pay for new roads.

Total bonds would be capped at $3 billion over 20 years, the newspaper reported.

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