Would ask voters to back a T-REX-style approach
If voters approve, the state would issue additional transportation revenue anticipation notes — or TRANs — for a maximum principal amount of $3.5 billion. The new TRANs would have a maximum repayment term of 20 years.
Roughly $3.5 billion in bonding would fund 45 much-needed road and bridge projects across Colorado, including the Interstate 70 mountain corridor, under a bill introduced late Monday in the legislature.
The measure — dubbed the Fix Colorado Roads Act — seeks to establish a “sustainable solution to Colorado’s transportation funding crisis,” say the bill’s backers.
They hope to put the 20-year bond program proposal on the November 2016 ballot for voters to decide.
Senate Bill 210 would put Colorado on par with other states that dip regularly into their general fund revenues to help maintain and build transportation infrastructure, said David May, president and CEO of the Fort Collins Area Chamber of Commerce and a proponent of widening Interstate 25 north of Denver.
Colorado, on the other hand, devotes no reliable general fund dollars to transportation. Read on…