Lawmakers back $600M in borrowing for Louisiana interstates
BATON ROUGE (AP) - Louisiana lawmakers have agreed to a more than $600 million borrowing plan to finance three interstate projects aimed at alleviating traffic snarls and boosting economic development.
The joint House and Senate budget committee agreed without objection Monday to the plan pushed by Gov. John Bel Edwards. Other approvals are needed before construction can begin.
The largest project is up to $400 million for a widening of Interstate 10 from the Mississippi River Bridge to Interstate 12 in Baton Rouge.
Also slated for financing are a new exit from Interstate 20 into Barksdale Air Force in Bossier City and an I-10 interchange in Kenner to serve a new terminal at the New Orleans airport.
Louisiana will use federal construction bonds that will be repaid over 12 years with federal highway dollars.