Highways The Texas Department of Transportation plans to let contracts for $4.1 billion in construction in 2008 are in jeopardy after having to return around $950 million to Washington over the past 18 months. The mood in Austin is uncertain, although voters approved Proposition 12 in November, authorizing the next Texas Legislature in 2009 to issue up to $5 billion in bonds (paid from general revenue) to build highway projects. A required independent audit of the Texas Department of Transportation during 2007 recommended that the department “should continue to pursue Comprehensive Development Agreements (CDA) and toll pricing at levels that...
