DALLAS - The Texas Transportation Commission approved a $1 billion issue yesterday after learning that the state may need as much as $313 billion to build and maintain highways through 2030.

The new general obligation bonds, the eighth series authorized by the commission, are expected to be issued in March or April. The bonds carry Texas' double-A rating and are also backed by revenues from the state Mobility Fund, derived from driver's license, inspection and other fees.

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