Bill Would Allow Bond-Financing for Neb. Roads
LINCOLN, Neb. (AP) -- Nebraska lawmakers are being asked to take a new approach to roads funding, with a bill that would allow the state to finance high-priority projects with bonds.
Nebraska has used a pay-as-you-go system for decades, but supporters said Wednesday that the state could take advantage of low interest rates while launching more job-creating construction projects. Sen. Annette Dubas of Fullerton says her legislation would help quicken the pace of long-delayed roads projects.
The bill was introduced three years after Nebraska officials passed a law that will divert an estimated $60 million to $70 million a year into roads projects.
The Department of Roads opposes the bill. Director Randy Peters says the state's traditional approach has served Nebraska well, and projects still take years to design.