Committee hears proposal to authorize roughly $2 billion in transportation bonds
Staff briefed Substitute Senate Bill 6225, which would authorize roughly $1.1 billion in general obligation bonds plus $400 million for Move Ahead Washington projects and $500 million for SR 520—totaling about $2 billion in authorizations; members requested more detail on debt service and project allocations.
The full story
David Monicki, staff to the committee, briefed members on Substitute Senate Bill 6225, which would authorize multiple general obligation bond issuances for transportation purposes. Monicki described three components: a $1.1 billion general authorization to be deposited in the Move Ahead Washington account, $400 million targeted to complete Move Ahead Washington highway projects with construction‑cost overrun needs, and a $500 million increase in the SR 520 bond authorization. He said proceeds must be appropriated before bonds are offered and that the bonds would be primarily repaid from motor vehicle fuel excise taxes and vehicle fees and secondarily by the state’s full faith and credit.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.