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Maryland Manual, 1969-70
Volume 174, Page 155   View pdf image (33K)
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MARYLAND MANUAL 155
Chapter 767, Acts of 1969 authorized the issuance of County High-
way Construction Bonds, Second Issue, to be used generally for the
same purpose as the preceding authority. This new issue, effective
July 1, 1969, is limited for each participating county to the amount
of bonds which, upon issue, would require an annual debt service
provision to cover both the first and second issue County Highway
Construction Bonds, not exceeding one-half of each participating
county's latest fiscal year share of Highway User Revenues.
PROPOSED ADDITIONAL FACILITIES
The General Assembly has authorized the construction of three
separate crossings over Chesapeake Bay and an additional tunnel
across the Baltimore Harbor. The Commission has determined to
proceed with the following facilities: Parallel Chesapeake Bay Bridge,
the Baltimore Harbor Outer Tunnel, and the Baltimore Harbor Tunnel
Approach (connection to 1-95). For this purpose, the Commission
sold $220,000,000 State of Maryland Bridge and Tunnel Revenue
Bonds, dated October 1, 1968.
The Consulting Engineers have prepared the following statement
showing the purpose of this bond issue:
Parallel Chesapeake Bay Bridge _ - - $ 96,680,000
Baltimore Harbor Outer Tunnel ..- - 109,150,000
Baltimore Harbor Tunnel Approach - . -- 5,670,000
Partial cost of traffic and other studies, engineering
and acquisition of rights-of-way for the Northern
Crossing and the Southern Crossing _ . 1,500,000
Capitalized interest to April 1, 1971 -- . . . 26,504,808
Financing expenses and bond discount - 4,400,000
Additional contingency reserve - 1,195,192
$245,000,000
Less: Estimated investment income during the
construction period - - - - - - 25,000,000
Total ,-- -- - $220,000,000
The proposed additional facilities are scheduled for substantial
completion and opening to traffic as follows:
Parallel Chesapeake Bay Bridge . - 1972
Baltimore Harbor Outer Tunnel . ... 1972
Baltimore Harbor Tunnel Approach - _ 1971
Appropriations.1969
Special Funds (including Federal Aid):
Sinking Fund Provision.State Highway Construction
Bonds . - ... --.... -$ 38,316,979
Construction of Primary and Secondary Highways.
State System .. ..- 82,598,784
Maintenance of Highways.State System . . 19,237,638
Enforcement of Motor Vehicle Weight-and-Size
Limitations - -- -- - 155,630
County and Municipality Funds - . . 71,391,919
Total ..- - -. - . $206,700,950

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Maryland Manual, 1969-70
Volume 174, Page 155   View pdf image (33K)
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