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The idea of charging tolls as a way to finance the proposed roads
first surfaced in 1984, but no real decision was made until public
joint-powers agencies were formed to manage financing, constructing
and operating the roads. In 1986, two agencies were born - the Foothill/Eastern
Transportation Corridor Agency and the San Joaquin Hills Transportation
Corridor Agency.
TURNING TO TOLLS
Government transportation dollars were still scarce. It soon became
apparent that the new roadways had to be tollways or they wouldn't
be built at all - a disastrous prospect given the county's explosive
growth. In 1987, Senate Bill 1413 passed, giving TCA the authority
to construct the new roads as toll facilities and issue bonds backed
by future toll revenues and development impact fees.
PUBLIC INFRASTRUCTURE, PRIVATE INVESTMENT
The San Joaquin Hills (73), Foothill (241), and Eastern (241/261/133)
Toll Roads were the first public highways to be constructed in Orange
County since 1987 when the Costa Mesa (SR-55) Freeway was extended
for four miles. Remarkably, The Toll Roads - which are owned and
maintained by the state of California -- were built with virtually
no taxpayer dollars.
TCA is funded by the sale of bonds to both private individuals
and institutional investors. The bonds can only be repaid by future
tolls and development fees. Since the bonds are not backed by the
government, taxpayers are not responsible for repaying the debt
if future toll revenues fall short. Today, all toll and development
impact fee revenue go toward retiring the construction debt , funding
additional improvements, and covering costs of operating The Toll
Roads.
COMMITMENT TO THE FUTURE
As the region's population increases and the economy grows, the
Transportation Corridor Agencies are looking at ways to ensure that
The Toll Roads remain a valuable, congestion-free alternative to
local freeways..
TCA is committed to excellent customer service, improving mobility,
and to preserving our quality of life now and in the future.
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