Countywide : OCTC to Sell Bonds to Pay for Call Boxes
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The Orange County Transportation Commission voted Monday to pay for the installation of 980 emergency call boxes on the county’s freeways by selling $5.3 million in certificates of participation, a type of bond.
The debt will ultimately be paid off with the $1.67 million that the transportation district receives annually in special vehicle registration fees from the state, commissioners said.
The OCTC also appropriated $75,000 to pay for a yearlong study on how to improve coordination of traffic signals on 15 so-called “super streets,” major arterial highways in the county that have four to six lanes.
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