NJ Signs $3.2B Transportation Bond Bill Into Law

Law360, New York (July 02, 2012, 7:55 PM ET) -- Legislation authorizing New Jersey to borrow up to $3.2 billion to fund capital transportation projects in New Jersey was signed into law on Friday by Gov. Chris Christie.

Roundly criticized by some who argued that voters should have a say in such borrowing, the legislation was defended by Republicans who said the new debt does not have to go before the voters because it will be repaid with funds already constitutionally dedicated — motor fuels tax, petroleum products gross receipts tax and the sales tax....
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