Legislative Watch 
LEGISLATIVE
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4/20/06-Gov. Dirk Kempthorne this month put his signature on legislation funding the start of the largest public works projects in Idaho’s history.
The $1.2 billion “Connecting Idaho” highways initiative, previously HB854, authorizes the sale of $200 million in grant-anticipated revenue vehicle bonds, or GARVEE bonds, for the first year.
The funding program allows the state to borrow money against the federal transportation dollars that come each year to pay for construction. The sale is based on the assumption that federal funding in future years would pay off the bonds. This allows the state to get money needed up front.
Legislators approved the Connecting Idaho program in 2005 and wrapped up this year’s session by authorizing the bond sales as the first stage of funding.
