Indiana plans to issue 250-million dollars in bonds to help pay for construction of the latest segment of Interstate 69.
The Evansville Courier & Press reports the developer chosen to build the stretch of highway from Bloomington to Martinsville will repay the tax-exempt bonds.
The bond documents estimate the total cost of the project at $370 million, with the state paying $80 million up front and making annual payments to I-69 Development Partners to maintain the highway for 35 years.
The project will upgrade Indiana 37 to interstate standards.
It's part of the I-69 extension that will connect Indianapolis and Evansville.
The state is expected to issue the bonds this month, and construction could begin later this year.