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Study: Toll Road lease was bad deal
Updated: Monday, 10 Dec 2012, 12:13 PM EST
Published : Monday, 10 Dec 2012, 12:13 PM EST
ELKHART, Ind. (AP) — A new study concludes the state's decision to lease the Indiana Toll Road to a private operator was a bad deal for taxpayers.
Indiana received $3.8 billion for leasing the toll road to a private consortium for 75 years. That money helped pay for major work on state highways.
But a public policy expert says taxpayers will pay the price for the 2006 deal in lost toll road revenue that otherwise would have gone into the state treasury.
The Elkhart Truth reports a state highway official defends the deal, saying taxpayers won't have to pay for more than $4 billion in toll road infrastructure costs because they'll fall to the operator instead of Indiana, and ITR Concession Co. has already invested more than $300 in improvements.
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