The state doesn’t expect the takeover of part of I-69 construction to put taxpayers on the hook for any more money.
The state announced last week it’s negotiating to buy out bondholders and take over Bloomington-to-Martinsville construction that’s now nearly two years behind schedule. Governor Holcomb says stepping in is the right thing to do — he says he’s “frustrated” at the repeated delays.
Until the state reaches a deal with those who bought bonds from the project’s developer, it won’t be clear whether the state has to come up with more money or not, but Holcomb’s office says the state doesn’t expect a shortfall. Holcomb says if more money is needed, it won’t be another gas tax hike on top of one already taking effect next month.
One possibility would be for the state to issue its own bonds. Its credit rating creates the possibility of paying less in interest than it collects on the current bonds.
