September 20, 2014
The state Transportation Board voted unanimously Thursday to seek issuance of $390 million in special obligation bonds to fund major highway projects over the next two years.
State Transportation Department chief Jeff Fontaine said the bond revenue will help the agency complete "its largest highway construction program."
Fontaine said the bonds would finance ongoing major southern Nevada projects such as the U.S. 95 widening and the Interstate 515-215 Interchange in Henderson, as well as the Carson City freeway bypass and the Interstate 580 extension from Reno to Washoe Valley in northern Nevada.
NDOT already has legislative approval for $190 million of the bonding for the fiscal year that begins July 1. The remaining $200 million for fiscal 2006 is subject to approval by the 2005 Legislature.
In both cases, the state Board of Finance will issue the bonds. Gov. Kenny Guinn chairs both the transportation and finance panels.