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New bonding program puts projects on faster track: Highway Enhancement through local partnerships from MDOT gets into drive.

Publication: Mississippi Business Journal
Publication Date: 29-AUG-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: New bonding program puts projects on faster track: Highway Enhancement through local partnerships from MDOT gets into drive.(Mississippi Department of Transportation)

Article Excerpt
The Mississippi Department of Transportation (MDOT) wants to HELP cities and counties get much needed highway projects without waiting decades for completion. That's why the state agency started Highway Enhancement through Local Partnerships (HELP).

Funding is the key to this help. Due to legislative transfer of MDOT funds in the last few years, MDOT has had to seek other funding sources to keep needed construction projects on schedule. MDOT has no bonding authority, but local entities do.

Brenda Znachko, a deputy director at MDOT, discovered a section in the Mississippi Code of 1972 that allows MDOT to enter into agreements to provide funds for projects through issuing local bonds. The funds are repaid by the Federal Highway Administration, and the state transportation commission is responsible for the debt service.

"This is a win/win situation for everyone," says MDOT's executive director Butch Brown. "Once...

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