Tomblin's Plan Gets Cold Reception: ; Legislator Says Loan Proposal for U.S. 35 Is a 'Bad Way to Go'
Charleston Daily Mail › February 23, 2011
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Summary
Acting Gov. Earl Ray Tomblin's proposal to fund construction of the final portion of U.S. 35 with a loan from the Public Employees Retirement System is facing a tough sell in the Legislature.
Senate Democrats were to caucus this morning to gauge support for the measure. The bill has been introduced only in that body because it surfaced after the House deadline for new bills.See the full content of this document
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Tomblin's Plan Gets Cold Reception: ; Legislator Says Loan Proposal for U.S. 35 Is a 'Bad Way to Go'
The Tomblin administration is pitching a plan to allow the state Parkways Authority to sell up to $110 million in toll revenue bonds to the state Investment Management Board, with the borrowed money to be drawn from the Public Employees Retirement Fund.
The bill is essentially a last-ditch attempt by administration officials to find a way to fund the $187 million construction ...See the full content of this document
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