Authorizes the Greater New Orleans Expressway Commission to issue additional toll bonds. (gov sig) (EN INCREASE SG EX See Note)
Impact
The bill specifically empowers the Greater New Orleans Expressway Commission to finance significant projects that aim to enhance public safety, particularly on major thoroughfares. By allowing for the issuing of toll bonds, the legislation enables the commission to address critical infrastructure needs without immediately drawing from state funds, which could alleviate some financial pressures on the state budget. The requirement for approval from various legislative committees for the expenditures maintains a level of oversight regarding how the funds are utilized.
Summary
Senate Bill 273 authorizes the Greater New Orleans Expressway Commission to issue additional toll bonds aimed at financing the construction of improvements and betterments to the Greater New Orleans Expressway. This legislation allows the commission to issue toll bonds amounting to up to $133 million for projects including safety rail enhancements and the development of safety shoulders. These improvements are intended to increase safety and efficiency for users of the expressway while investing in essential infrastructure.
Sentiment
The sentiment surrounding SB 273 appears to be generally supportive among legislators who recognize the need for improved infrastructure and public safety on the expressway. The unanimous vote of 35-0 in the Senate reflects broad agreement on the importance of this measure. However, some concerns may arise regarding future toll implications for commuters and the potential impact of bond financing on local governance, though these aspects are not highlighted in major opposition to the bill.
Contention
Notable points of contention may stem from the financing mechanics of the toll bonds and how this could affect transportation costs for users of the Greater New Orleans Expressway. Critics may question the long-term sustainability of relying on tolls as a funding source and whether it might lead to increased costs for the users, particularly if future toll hikes are necessary to cover system improvements or debt service obligations related to the bonds. However, the support for infrastructure improvement generally outweighs these concerns, at least in the initial discussions.
Provides for an additional member to the board of commissioners of the Ernest N. Morial - New Orleans Exhibition Hall Authority. (See Act) (EN NO IMPACT LF EX See Note)