Brief (1)
House Sub. for SB 304 would authorize the Secretary of Transportation to issue $277.0 million in additional bonds by raising the total principal amount of bonding authority from $995,000,000 to $1,272,000,000. The additional bond proceeds would provide funds to pay for costs relating to construction, reconstruction, maintenance, and improvement of Kansas highways.
Background
House Sub. for SB 304, as recommended by the House Committee on Appropriations, raises the total principal amount of bonds by $277.0 million, in order to offset reductions the Committee made in Sub. for HB 2504 to the State General Fund demand transfer to the State Highway Fund of the Department of Transportation by $20.0 million per year, from FY 2002 to FY 2009.
1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/fulltext.cgi