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Wednesday, March 9, 2011

JFAC Approves GARVEE Recommendation

The Joint Finance-Appropriations Committee has approved the Idaho Transportation Department Board's recommendation for GARVEE bonding for next year, voting 17-3 for it.

The bonding plan totals $162 million, and is all for construction - $79.4 million for the Garwood to Sagle project on Highway 95 in North Idaho, and $77.9 million for the Idaho 16 project in the Treasure Valley area.

GARVEE bonds are paid off with future federal highway allocations. This request is the last in a multi-year effort that paid for major construction projects in seven highway corridors across the state.

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