NM ROAD COMES WITH 20-YEAR WARRANTY

The New Mexico State Highway and Transportation Department and Mesa Developers have entered into a unique relationship that will guarantee the citizens of New Mexico 121 miles of four-lane highway that will be built and warranted by the developer for 20 years. To finance this project, one hundred percent federal dollars have been pledged to repay bonds over an 18-year period. For the first time ever, a state will issue $295 million in bonds with the sole source of repayment being future federal funds -- with no state guarantee.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/1519687
• Corporate Authors:

  N/A

  P.O. Box 558
  Park Ridge, IL  United States  60068
• Authors:
  • Rahn, P
• Publication Date: 1998-11

Language

• English

Media Info

• Pagination: p. 20-21
• Serial:
  • Better Roads
  • Volume: 68
  • Issue Number: 11
  • Publisher: James Informational Media, Incorporated
  • ISSN: 0006-0208
  • Serial URL: http://www.betterroads.com

Subject/Index Terms

• TRT Terms: Bonds; Federal aid highways; Four lane highways; State highway departments; Warranty
• Uncontrolled Terms: Warranties
• Geographic Terms: New Mexico
• Subject Areas: Design; Finance; Highways; I10: Economics and Administration;

Filing Info

• Accession Number: 00758000
• Record Type: Publication
• Files: TRIS
• Created Date: Dec 23 1998 12:00AM