The founder of TexasTollParty.com shines a light on the dark corners of special interest boondoggles: Double tax tolls and Trans Texas Corridor tax, toll & debt schemes.
Below is a link to a three-part series about 23 of the newest tollroads built in America. Note that several are not true self-funding toll roads because they are backed by non-toll funds which lowers their costs.Only five of the 23 "were close to or exceeding revenue projections at the end of their third year."One has gone into default.In a tollroad system the better performing links can cover losses of the under-performers. There is a pattern of "optimistic" forecasts, which helps sell the bonds. This practice has forced some agencies to refinance their bonds and extend the day when bonds are paid off.In Colorado there is discord among government officials who disagree about the value of a proposed toll road. A county has hired a consultant who's report says that the state's report is wrong (now that has to be a first) and that the proposed toll facility will add to congestion. http://www.planetizen.com/node/19956Barry
Post a Comment