Loan will keep S.F. Bay area highway projects afloat

01/30/2009 | San Francisco Chronicle

A loan to the state of California from transportation officials in the San Francisco Bay Area will help keep several California highway programs on track. The Bay Area Toll Authority will buy general obligation bonds from the state treasurer over the next three years, and the state will use the funds to pay contractors working on carpool lane and traffic monitoring projects. "This would keep these projects moving, prevent the potential layoff of contractors, workers and their staffs, and support the regional economy and jobs," Caltrans' Bay Area district director Bijan Sartipi said.

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