N.C. faces 40-year obligation to roads
Thursday, July 24th, 2008
By Staff
Toll projects need about $99 million a year, officials say
Published: July 24, 2008
RALEIGH
Soaring construction costs have increased the anticipated cost of North Carolina's first toll roads, officials said, making it imperative for legislators this year to commit millions in taxpayer money over the next 40 years to cover the projects.
With the money included in the recently approved state budget and another bill detailing toll-collection methods awaiting Gov. Mike Easley's signature, N.C. Turnpike Authority officials said that the state's first toll road is on track to open in 2010.
The General Assembly created the authority in 2002 to oversee the creation of new roads in congested areas. Supporters said that motorists would tolerate the tolls in return for new roads that couldn't be built without the revenue. (more…)
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