3/30/07-Gov. Mike Beebe has signed a bill into law that will allow for Arkansas voters to decide in November 2008 whether to authorize $575 million in bonds to cover road repairs. If approved, the state Highway Commission would be authorized to issue the bonds through 2013.
The new bond program, previously SB840, would allow the state to borrow money against the federal transportation dollars that come each year to pay for construction.
3/19/07-The House Public Transportation Committee approved a bill that would give the Arkansas Highway Commission the authority to issue $575 million in bonds to cover road repairs.
Sponsored by Sen. Bobby Glover, D-Carlisle, SB840 calls for the commission's bond authority to sunset by 2014.
Voters would have the final say in a special or general election. The bill now heads to the House floor for further consideration. The Senate previously approved it by unanimous consent.
For bill status, call (501) 682-5951.
An identical House bill - HB2590 - has been forwarded to the Senate. The House previously approved it.
3/8/07-A bill in the Senate Transportation, Technology and Legislative Affairs Committee would give the Arkansas Highway Commission the authority to issue $575 million in bonds for road work. Voters would have the final say in a special or general election.
Sponsored by Sen. Bobby Glover, D-Carlisle, SB840 calls for the commission's bond authority to sunset by 2014.
The proposed new bond program would allow 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.
For Senate bill status, call (501) 682-5951.
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