It’s Kickoff for T-WORKS

The first three highway projects financed through a $10-year, $8.2 billion transportation initiative called T-WORKS are an investment in public infrastructure, Kansas Gov. Sam Brownback said at a news conference last week.

Speaking in Overland Park, he said the initial projects will cost $250 million but will return more than $1 billion to the state economy.

“Not only will there be an excellent return on the state’s investment, these projects also are ready to begin in the spring, which means we can get right to work creating jobs,” the Republican governor said.

The 10-year effort is being financed in part with $1.7 billion of revenue bonds issued by the Kansas Department of Transportation.

KDOT issued the first tranche in August 2010 as $325 million of taxable Build America Bonds.

The 25-year revenue bonds are rated AAA by Standard & Poor’s, Aa1 by Moody’s Investors Service, and AA-plus by Fitch Ratings.

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Transportation industry
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