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I-5 bill missing funding details

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Tuesday, February 19, 2013

A bill to approve the new Interstate 5 bridge over the Columbia River would authorize $450 million in bonds, but doesn't say how Oregon would pay off that debt.

Paying down the bridge debt would cost roughly $30 million per year.

In the short term, the Oregon Department of Transportation can use unanticipated federal transportation dollars to cover the debt, lawmakers said. But after that money runs out in two to three years, the state would have to approve a new revenue source — such as a gas tax or vehicle fees — or reduce the amount of money available for other road projects.

Read more at The Bend Bulletin.

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