Colorado Republican lawmakers say they won’t be bound by transportation projects approved by Democratic Gov. Bill Ritter as part of his FASTER transportation program.
State officials disagreed Monday, saying the state plans to sell $300 million in bonds by the end of this week and tampering with the programs might endanger the state’s credit rating.
Sen.-elect Kent Lambert of Colorado Springs says the road projects were rushed through because they were shovel ready, not because they were the most critical, and he wants to re-examine the state’s priorities.
He said the bonds are being sold to an enterprise fund and the state has no obligation to pay for them. The bonds are being paid for through higher vehicle registration fees.