The Texas Bond Review Board (TBRB) approves all bonds issued by state agencies with a principal greater than $250,000 or a term greater than five years.
On May 5, 2005, the TBRB unanimously voted and approved a motion that would not allow toll roads to be a prerequisite to receive Texas Mobility Funds from TxDOT. I was there.
The critical language reads:
"...no series will be issued if the Texas Transportation Commission or the Department of Transportation requires that toll roads be included in regional mobility plans in order for local authorities to receive allocations from the Mobility Fund."Yet, TxDOT has ignored the prohibition.
In a response to a FOIA request, Ed Collins of TxDOT sent me a letter which itemizes the tax dollars for both toll road and non-toll options the Capitol Area MPO was given. The letter reveals that $270 million worth of Texas Mobility Fund dollars would be withheld if CAMPO did not approve the toll package (a toll plan that converts our public highways to toll tax cash cows for the benefit of the special interests).
TxDOT did exactly what they were prohibited from doing - to the tune of $270,000,000 tax dollars for Central Texas. How many more hundreds of millions have they used as leverage to convert our freeways to tollways across Texas?