The Dominion Post  
 

Road bonds bill passes

Created on:   Mon, Dec 4, 2017   9:44 PM

Last modified:   Tue, Dec 5, 2017   6:44 AM

The Dominion Post

CHARLESTON — Legislators passed a bill and a resolution authorizing Roads to Prosperity bond sales Dec. 4, during a one-day special session. The bill was quickly signed by Gov. Jim Justice.

The bill, SB 3001, authorizes the sale of a total $1.6 billion worth of bonds in four phases: $800 million this fiscal year; $400 million in FY 2019; and $200 million each in FY 2020 and 2021.

The resolution, SCR 301, is a required companion to the bill and actually authorizes Justice to sell the first round of bonds to raise $800 million. Similar resolutions must follow in the next three fiscal years for the remaining three rounds of sales.