The “Emergency Transportation and Water Infrastructure Recovery Bond Act of 2011” would provide $50 million for counties and $50 million for towns
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Assemblywoman Connie Wagner (D-Bergen), the sponsor of the bill that would issue $100 million in bonds to repair water and transportation infrastructure damaged during Hurricane Irene.TRENTON — New Jersey would issue $100 million in bonds to repair water and transportation infrastructure damaged during Hurricane Irene under a bill released by an Assembly panel this afternoon.
The “Emergency Transportation and Water Infrastructure Recovery Bond Act of 2011” would provide $50 million for counties and $50 million for towns.
Voters typically have to approve bond issues, but a provision in the state constitution allows the state to issue bonds without voter approval when the funds are used to “meet an emergency caused by disaster or an act of God.”
The Commissioners of Transportation and Environmental Protection would prepare a priority list of eligible emergency infrastructure projects and the funds from the bonds would be appropriated by the legislature based on the lists.
“With record weather events increasing, it’s clear that certain towns are in need of significant structural upgrades,” said Assemblywoman Connie Wagner (D-Bergen), the sponsor of the bill.
It was released by the Assembly Environment and Solid Waste committee today. The Senate version of the bill was released from the Senate budget committee earlier this month with seven votes in favor, two against and two abstentions.
