South Carolina (R) governor OKs tolls for new road

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-02-06T184602Z_01_N068263_RTRIDST_0_ECONOMY-SOUTHCAROLINA-TOLLS.XML

MIAMI, Feb 6 (Reuters) - South Carolina Gov. Mark Sanford on Monday signed a bill authorizing tolls for financing a 90-mile (145-km) stretch of the planned Interstate 73 to extend into the state's Grand Strand tourist region.

South Carolina expects its estimated share of the road to cost about $2 billion. State officials have said toll revenues would allow the highway in northeast South Carolina to be built within eight years.

State lawmakers, who quickly passed the law introduced last month, have said the project would require issuance of bonds. But a spokesman for the Republican governor was not immediately available to discuss the amount and timing of possible bond sales.

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