The state Transportation Trust Fund got a green light Monday to refinance old debt that could pump $95 million in savings back into the fund that bankrolls big highway and transit projects.
The state legislature’s Joint Oversight Committee on Monday approved by a 6-0 vote the refinancing of debt from 2015 and 2019.
State treasury department officials told the committee that refinancing the total $1.72 billion in debt and retiring another $1.65 billion in older bonds could save $95.4 million. The savings would go back to the transportation trust fund instead of the state general treasury, treasury officials said.
Source link
