Alaska voters approve goody bag of road projects
Published Tuesday, November 4, 2008
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Stumble It!ANCHORAGE, Alaska -- More highway improvements, bridge repairs and new traffic intersections are in store after voters agreed to use general obligation bonds to pay for the projects.
A measure approved Tuesday authorizes the sale of up to $315 million in bonds to pay for more than two dozen transportation projects around the state.
Lawmakers approved the package last April after sprinkling it with road construction projects around the state to broaden voter appeal.
State revenue officials say the bonds constitute a manageable amount of debt for the state.
They also say that despite the market turmoil, the state should have no problem selling the bonds because its healthy cash reserves make it a good credit risk.
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