Lawmakers Agree to Borrowing $600 Million for Louisiana Interstates
Louisiana lawmakers have agreed to a $600 borrowing plan to fund three interstate projects aimed at alleviating traffic and boosting economic development.
The joint House and Senate budget committee agreed on Monday to the plan urged on by Gov. John Bel Edwards. There are still other approvals needed before construction can begin however.
The biggest of the projects will cost up to $400 million for the widening of Interstate 10 from the Mississippi River Bridge to Interstate 12 in Baton Rouge.
Also on the slate would be a new exit from Interstate 20 into Barksdale Air Force in Bossier City along with an I-10 interchange in Kenner to service a new terminal at the New Orleans airport.
The state will use federal construction bonds that will be repaid over a 12 year period with federal highway dollars.