Countywide : OCTC to Sell Bonds to Pay for Call Boxes
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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