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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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