CHARLESTON– The West Virginia Parkways Authority has approved the final items needed for the sale of $172 million of Turnpike bonds.
The Charleston Gazette-Mail reports the bond sale starts Tuesday. The authority approved policies Thursday assuring the sale complied with federal laws. It also agreed to work with Digital Assurance Certification LLC to provide bondholders with annual reports and disclosure statements, as federally required.
Parkways general manager Greg Barr says he hopes to start some projects funded by the bonds this year. The projects include the construction of nearly 4 miles (6 kilometers) of a four-lane highway in Mercer County. Barr says the Division of Highways will oversee fund dispersal.
This sale is the first of two that will be repaid by Turnpike tolls and are expected to total more than $300 million.