LOS ANGELES — The San Diego Association of Governments is leaning away from issuing bonds to fund the $345 million purchase of a toll road from a private operator.

Marney Cox, SANDAG’s chief economist, said he presented the board with two options for financing the purchase. Based on the board’s objectives — one of which is to lower tolls — he said shifting money from a parallel road project and obtaining a loan looks like the cheaper option for the San Diego-based agency.

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