.
News Alert
Carjackers Shoot Sandy Springs Woman At Apartment …

Gov. Deal: GA 400 Tolls End in December 2013

The Governor said the state can't pay off bonds tied to toll revenue until after Dec. 1, 2013, or it would pay a penalty.

 

Gov. Nathan Deal promises that an end to tolls on GA 400 is in sight, though that wont' be until after Dc. 1, 2013–yes, next year.

The Governor said bonds issued by the state will be paid off by that time, allowing the tolls to be removed.

This will stop collection four years earlier than previously planned, according to a release sent out this morning.

 “Ga. 400 commuters have paid more than their fair share already, and this is the earliest we can bring it down without paying a penalty for early repayment of the bonds,” Deal said. “When the Ga. 400 toll went up, the state of Georgia promised commuters that it wasn’t forever. If we don’t keep that promise, we lose the faith of the people.”

Commuters expected the GA 400 toll to come down after 20 years, in 2011. But in 2010, the state issued new bonds tied to the tolll revenue topay for improvements along the GA 400 corridor, including a new connector to I-85. The $40 million in bonds were issued Dec. 1, 2010. Deal's office said at the three-year mark the state can repay the bonds without a penalty.

The state also needs time to plan for physically bringing down the gates and the dramatic restructuring that will be needed in the toll area.

The State Road and Tollway Authority still has to approve of this proposal.

Local politicians were quick to respond to Deal's promise, including Sen. John Albers, R-Roswell.

“I applaud Gov. Deal for upholding his promise to remove the GA 400 toll. Although meant to be a temporary source of infrastructure revenue, the 400 toll has become a transportation barrier," Albers said.

"A promise made is a promise kept. I look forward to bringing my sledgehammer down on Dec. 1, 2013 to remove these tolls for good,” Albers said.

Jim Galloway in his Political Insider blog says the timing is intended to help TSPLOST get approved.

What do you think?

Nayef H. Haddad July 21, 2012 at 08:39 AM
I am personally very grateful to Governor Deal for this move. According to federal requirements and to qualify for federal funds, tollways are conceptually put to repay the bonds and then they have to be put down right after that; howver, we rarely see this happen. This is the first one I know that the tollways are coming down. Thank you Governor.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »