Our opinion is based on the testimony of the WSDOT CFO, Amy Arnis, who reported to legislative officials that this discretionary funding program is no longer a part of the United States' budget, and hasn't been for at least a year.
That's because toll bonds with federal backing can sell at 3.75 percent interest compared to 5 to 7 percent backed by tolls alone, said Amy Arnis, chief financial officer for Washington DOT.
Bridge debt would last until 2056, Arnis said.
The state received close to $25 million under the lease agreements, said Amy Arnis, assistant secretary for strategic planning and finance for the state transportation department.The leases are "not addressed in the governor's budget," she said.
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