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Port advisory committee recommends delaying support for proposed bridge toll increase pending negotiations and budget review
Summary
After a multi-hour presentation and debate about bridge-expansion debt and toll-rate options, the Port of Laredo advisory committee voted to recommend that the city delay support for a proposed multi-year toll increase until after the midterm elections/January and to ask council to negotiate funding alternatives, possible project cuts and revenue-split adjustments.
The Port of Laredo Port of Entry Advisory Committee voted to recommend that the City Council not support the proposed toll-rate increase at this time and to delay endorsement until after the midterm elections — while staff and council pursue additional negotiations, grant opportunities and budget trade-offs.
The recommendation followed a staff presentation outlining a phased toll-rate plan to support bridge expansions and operations. Staff said the plan contemplated issuing debt and phasing per-axle toll increases (a five-year phasing with a 50-cent per-axle increment in early years was discussed), and that a $95 million bond issuance would likely be needed in year one to…
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