THE PAY-AS-YOU-GO PLAN OF HIGHWAY FINANCING

THE USE OF CURRENT FUNDS IS PREFERABLE TO A BOND ISSUE FOR ROAD CONSTRUCTION FOR THESE REASONS: (1) UNNECESSARY AND EXTRAVAGANT EXPENDITURES ARE OFTEN MADE WHEN LARGE SUMS OF MONEY ARE MADE AVAILABLE AT ONE TIME BY BORROWING, (2) THE SAME AMOUNT OF MONEY WILL PROVIDE 47 PER CENT MORE MILES OF ROAD PAYING AS YOU GO THAN IN THE FORM OF 20 YEAR SERIAL BONDS, AND (3) IT IS NOT SOUND POLICY TO BOND FOR PAVEMENT THAT CANNOT BE EXPECTED TO SERVE WELL BEYOND THE END OF THE BONDING PERIOD WITHOUT RESURFACING.

  • Supplemental Notes:
    • Vol 8, pp 72-78
  • Authors:
    • Donaghey, J T
  • Publication Date: 1929

Media Info

  • Monograph Title: Proceedings of the Eighth Annual Meeting of the Highway Research Board Held at Washington, D.C. December 13-14, 1928
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00201000
  • Record Type: Publication
  • Files: TRIS, TRB
  • Created Date: Jul 18 1971 12:00AM