FOR IMMEDIATE RELEASE
Landske: Interest Hits $100 Million from Toll Road Lease Major Moves Update
(STATEHOUSE)- Senator Sue Landske (R-Cedar Lake) is proud to announce that interest earnings on the Indiana Toll Road Lease have reached over $100 million since July 5, 2006 and are continuing to accumulate at a rate of $6 per second.
Gov. Mitch Daniels’ 10-year $11.8 billion highway construction plan called Major Moves will receive one-third of its funding from the toll road lease. The remainder will be covered by state and federal gasoline tax revenues.
The earnings will allow a number of new road projects throughout the state to be completed. In addition to that, Major Moves provides dollars that will not have to be borrowed to complete, saving Hoosiers money everyday.
This year in Lake County, Major Moves will help fund $73,240,479 in new construction and $37,574,051 for current road preservation. Road preservation involves resurfacing and restoring the roadway to “like new” quality. It enhances the safety and usefulness of the roadway.
“Major Moves is helping all Hoosier motorists,” said Senator Landske. “The upcoming projects will give taxpayers from the Crossroads of America a smoother ride.”
Earning updates and project progress can be tracked at http://www.in.gov/dot/majormoves/about.html
Senator Landske represents Senate District 6, which includes Lake, Newton and Benton Counties.
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