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Article: Earthquake protection for San Francisco Bay Bridge may require more bonds.
- Article from:
- The Bond Buyer
- Article date:
- February 7, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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More of the $1 billion-plus cost of earthquake-proofing the San Francisco-Oakland Bay Bridge could be financed with tax-exempt bonds than was originally envisaged, officials said yesterday.
California Gov. Pete Wilson soundly rejected the idea of a new gas tax to raise money to retrofit the state's bridges, but his staff hinted that additional bonding backed by toll revenues would be a better alternative.
State officials said last week that the cost of strengthening the San Francisco-Oakland Bay Bridge so that it could withstand a major earthquake had risen to between $1 and $1.3 billion. A $2 billion general obligation bond measure that will go before voters ...