A semi-win for Northern Ohio on turnpike issue…
As reported in the Toledo Blade, Turnpike funds for state jobs plan cut in half which is a semi-win for Northern Ohio. A complete win would of course be if what was originally promised when the turnpike became a toll road in the first place that was voter approved was reversed, but I don’t think that will ever happen. As many know, originally when the initial bond issue was paid off the turnpike was supposed to stop being a toll road. However the General Assembly changed that in crafting this back in the 1990’s:
§ 5537.21. Continuance as toll road after debts paid; fixing and use of tolls.
(A) When bond service charges on all outstanding bonds issued in connection with any turnpike project have been paid or provision for that payment has been made, as provided in the applicable bond proceedings, or in the case of a turnpike project in connection with which no bonds have been issued, the project shall continue to be or be operated, and improved and maintained, by the Ohio turnpike commission as a part of the Ohio turnpike system and as a toll road, and all revenues received by the commission relating to that project shall be applied as provided in division (B) of this section.(B) Subject to the bond proceedings for bonds relating to any turnpike project, tolls relating to a turnpike project as referred to in division (A) of this section shall be so fixed and adjusted that the aggregate of revenues relating to that project and available for the purpose are in amounts to provide moneys sufficient, and those revenues shall be used, to pay the costs described in division (C)(1) of section 5537.13 of the Revised Code.
HISTORY: GC § 1219; 123 v 232 (244); Bureau of Code Revision, 10-1-53; 135 v H 200 (Eff 9-28-73); 143 v S 7 (Eff 4-12-91); 145 v H 154. Eff 6-30-93.
(C)(1) of section 5537.13:
(C) Tolls shall be so fixed and adjusted as to provide funds at least sufficient with other revenues of the Ohio turnpike system, if any, to pay:
(1) The cost of maintaining, improving, repairing, constructing, and operating the Ohio turnpike system and its different parts and sections, and to create and maintain any reserves for those purposes;
(2) Any unpaid bond service charges on outstanding bonds payable from pledged revenues as such charges become due and payable, and to create and maintain any reserves for that purpose.
For some of us, it’s been a continuing issue where Northern Ohio is treated differently when it comes to the main way of us getting from one part of the state to another is a toll road than other parts of the State.
The wiki page for the Turnpike has quite a few links for those of you interested in learning more about both the history and the recent news about the Turnpike.
[...] that was supposed to eventually be free once it was paid off? Yes, the Ohio Turnpike, that back in May local elected officials fought to keep part of the turnpike revenue here with the stated goal of: [...]
November 18th, 2008 at 9:17 am