Lawmakers send transportation funding bill to governor

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DENVER — Lawmakers have passed a bill asking voters to borrow $2.34 billion for transportation projects.

The Senate voted unanimously Monday night to approve a compromise struck earlier this week by top lawmakers.

The bill sets aside $645 million for transportation projects over the next two years.

It would also send voters a referendum in 2019 to issue $2.34 billion in transportation bonds. The state would owe up to $3.25 billion in borrowing costs over 20 years.

The bulk of the funding would be spent on state highway projects, with 15 percent set aside for alternate forms of transit.

Outside groups might send voters other transportation funding options on the 2018 ballot. If any of them pass, the 2019 referendum would be canceled.

The bill now heads to the governor’s desk.

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