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Senate approves $10 million bonding authority to speed highway right‑of‑way purchases
Summary
House Bill 4 61 authorizes the State Building Ownership Authority to issue up to $10 million in lease‑revenue bonds to the Transportation Corridor Preservation Revolving Loan Fund for right‑of‑way acquisitions; the Senate passed the measure 25–1–3 on March 3, 1998.
The Utah Senate voted March 3 to give the State Building Ownership Authority the power to issue lease‑revenue bonds of up to $10 million to fund the Transportation Corridor Preservation Revolving Loan Fund, a tool intended to let planners buy property needed for future highway projects without long funding delays.
Sponsor floor remarks explained the purpose: the Corridor Preservation Fund supplies timely financing so homeowners…
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