DALLAS — Arkansas Gov. Mike Beebe urges voters in a 30-second television ad being aired statewide to renew a $575 million Garvee highway bond program at next week’s special election.

The 12-year bonds would be supported with federal highway grants and an existing diesel fuel tax of 4 cents a gallon approved by voters in 1999 to support the current grant anticipation revenue vehicle program. Proceeds from the bonds would be split, with 70% going to maintenance on 300 miles of Interstate highway in the state and the remainder divided between city and county road efforts.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.