Transportation

 

SB 210 (Stipe/Tyler): Requires the Authority to send notice of toll violations and any other correspondence by registered mail. It requires any bond or irrevocable letter issued to the Authority to specify that the contractor shall pay all state and local taxes accruing as a result of the contract, any liquidated damages, or any overpayment of progressive estimates resulting in a balance due. It prohibits the Turnpike Authority from withholding any retainage on public construction contracts.

SB 270 (Shurden/Leist): Would authorize the governing body all incorporated cities or towns and boards of county commissioners to determine and regulate speed limits of trains at certain railroad crossings if the speed limit is not less than 25 mph. Referred to Senate General Government Committee during interim.

SB 651 (Stipe/Tyler): Authorizes the Turnpike Authority to enter upon any lands for the purpose of establishing, locating, relocating, constructing, and maintaining turnpikes if a ten (10) day notice is given to the owner or person residing on the property. The notice shall be given personally or by registered mail. Currently the Authority has to condemn such property before entry.

HB 1629 (Hilliard/Roberts) and HB 1881 (Hamilton/Haney): Will enhance the state's economy and highway infrastructure. Establishes a $1.01 billion road plan, a combination of lease-back, bond and cash funding of specific highway improvements throughout the state. The Plan will be funded as follows:

  • $34.9 million in the first year in new revenues are provided to ODOT for highway projects included in the plan. The bill states legislative intent to appropriate $40 million annually for the next four years to ODOT during FY'99, FY'00 and FY'01 to continue funding of the plan.

  • $50 million in "Rainy Day" funds were appropriated for highway projects included in the plan. The bill states legislative intent to appropriate $50 million in Rainy Day funds in FY'99 and $52.55 million in FY'00 and FY'01 to continue funding of the plan. Also, the bill states legislative intent to appropriate $10 million in Rainy Funds in FY'99 for highway projects in Oklahoma and Tulsa counties.

  • The Oklahoma Capital Improvement Authority is authorized to issue $300 million in bonds to construct highway improvements authorized in the plan. Under "lease-back" provision, OCIA will sell 10-year bonds to provide construction funds. OCIA, in partnership with ODOT, will construct the road improvements. OCIA will lease the road improvements to ODOT until the bonds are retired, when ownership will be transferred to ODOT. The bill states intent that the legislature will provide funds to ODOT in the future for lease payments to OCIA for retiring the bonds. Bonds are anticipated to go to market in late-FY'98, with construction beginning in the fall of 1998.

  • Intent language provides for future funding of $300 million for the road plan. Of the amount, $150 million would be provided from the Rainy Day Fund and $150 million would be provided via a second OCIA lease-back bond issue.

 

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