By June 5, 2018 Read More →

Parkways Authority hashes out details on toll hikes, bond sale


Charleston Gazette-Mail

CHARLESTON, W.Va. —  For three hours Monday, members of the state Parkways Authority hashed out details for the sale of more than $300 million of Turnpike bonds, a plan the authority is expected to formally approve on Thursday.

That number is considerably less than the $500 million of Turnpike toll bonds that state lawmakers thought would be sold when they passed a bill in 2017 to continue tolls on the Turnpike for another 30 years.

However, Parkways General Manager Greg Barr said the hope is that the doubling of toll rates on the Turnpike will produce more money than projected in the intentionally conservative estimates in a toll revenue study by CDM Smith Inc. For passenger vehicles, tolls will increase from $2 to $4 per toll barrier, without E-ZPass discounts.

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