Washington Code 47.01.417 – State route No. 520 improvements — Finance plan — Revenue sources and savings recognition
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The state route number 520 bridge replacement and HOV project finance plan must include:
Terms Used In Washington Code 47.01.417
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(1) Recognition of revenue sources that include: One billion seven hundred million dollars in state and federal funds allocated to the project; one billion five hundred million dollars to two billion dollars in tolling revenue, including early tolls that could begin in late 2009; eighty-five million dollars in federal urban partnership grant funds; and other contributions from private and other government sources; and
(2) Recognition of savings to be realized from:
(a) Potential early construction of traffic improvements from the eastern Lake Washington shoreline to 108th Avenue Northeast in Bellevue;
(b) Early construction of a single string of pontoons to support two lanes that are for transit and high occupancy vehicle travel and four general purpose lanes;
(c) Preconstruction tolling to reduce total financing costs; and
(d) A deferral of the sales taxes paid on construction costs.
[ 2008 c 270 § 3.]
NOTES:
Finding—2008 c 270: See note following RCW 47.01.408.