The check's in the mail.
Williamson County hears proposals on pass-through toll plan
County weighs options to front the money until state pays them back.
February 08, 2006
By Jennifer Barrios
Austin American-Statesman
Copyright 2006
GEORGETOWN — Williamson County officials rejoiced last year at the news that the state was going to reimburse millions of dollars for new road projects under a pass-through toll program.
Now, those officials must figure out how to front the money for the projects, which total more than $170 million.
The Commissioners Court heard a presentation Tuesday on their options, mostly centered around which sort of bonds to issue and whether to back them with tax dollars.
Pass-through toll projects are so new, there are no ways established to finance them, said Dan Wegmiller, senior vice president of investment-banking company First Southwest.
Despite its name, the pass-through toll program does not involve tolls. The county will build the roads and then be reimbursed most of the money by the state over 10 to 20 years.
That adds up to a reimbursement of $152.9 million to the county for six projects involving U.S. 79, U.S. 183, FM 1660, FM 2338, and the interchange of Interstate 35 and Texas 29. The court also needs to decide how to spend $55 million left from a $350 million road-bond program that voters approved in 2000.
Transportation consultant Mike Weaver advised the court to use the money for extensions or sections of new road on Ronald Reagan Boulevard, County Road 274 and Gattis School Road, for an extension of O'Connor Boulevard, and to purchase right-of-way for Chandler Road. That would leave about $10 million.
County Judge John Doerfler then surprised some commissioners with a motion to spend $4 million of the $10 million to build on- and off-ramps from I-35 to Inner Loop in Georgetown, where several county buildings are located.
Commissioner Lisa Birkman, whose precinct covers the eastern portion of I-35 in question, argued that the county had more pressing concerns than the ramps, a project she said was not included in the original road-bond program.
Commissioner Tom McDaniel indicated that he would side with Birkman, and Commissioner Frankie Limmer said he would vote with Doerfler. Commissioner Greg Boatright said he would prefer to wait to allocate the extra money until the other projects were awarded.
Doerfler's motion died for lack of a second.
© 2005 Austin American-Statesman: www.statesman.com
County weighs options to front the money until state pays them back.
February 08, 2006
By Jennifer Barrios
Austin American-Statesman
Copyright 2006
GEORGETOWN — Williamson County officials rejoiced last year at the news that the state was going to reimburse millions of dollars for new road projects under a pass-through toll program.
Now, those officials must figure out how to front the money for the projects, which total more than $170 million.
The Commissioners Court heard a presentation Tuesday on their options, mostly centered around which sort of bonds to issue and whether to back them with tax dollars.
Pass-through toll projects are so new, there are no ways established to finance them, said Dan Wegmiller, senior vice president of investment-banking company First Southwest.
Despite its name, the pass-through toll program does not involve tolls. The county will build the roads and then be reimbursed most of the money by the state over 10 to 20 years.
That adds up to a reimbursement of $152.9 million to the county for six projects involving U.S. 79, U.S. 183, FM 1660, FM 2338, and the interchange of Interstate 35 and Texas 29. The court also needs to decide how to spend $55 million left from a $350 million road-bond program that voters approved in 2000.
Transportation consultant Mike Weaver advised the court to use the money for extensions or sections of new road on Ronald Reagan Boulevard, County Road 274 and Gattis School Road, for an extension of O'Connor Boulevard, and to purchase right-of-way for Chandler Road. That would leave about $10 million.
County Judge John Doerfler then surprised some commissioners with a motion to spend $4 million of the $10 million to build on- and off-ramps from I-35 to Inner Loop in Georgetown, where several county buildings are located.
Commissioner Lisa Birkman, whose precinct covers the eastern portion of I-35 in question, argued that the county had more pressing concerns than the ramps, a project she said was not included in the original road-bond program.
Commissioner Tom McDaniel indicated that he would side with Birkman, and Commissioner Frankie Limmer said he would vote with Doerfler. Commissioner Greg Boatright said he would prefer to wait to allocate the extra money until the other projects were awarded.
Doerfler's motion died for lack of a second.
© 2005 Austin American-Statesman:
posted by Porkus Maximus Tex: at Tuesday, February 07, 2006
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