Utah panel approves plan to use up to $1B in bonds for roads

SALT LAKE CITY (AP) - A panel of Utah lawmakers on Monday approved a plan to borrow up to $1 billion through bonds to pay for highway projects.

The Senate Transportation Committee on Monday approved the measure, which borrows the $1 billion over four years. It now advances to the full Senate for consideration.

Taylorsville Republican Sen. Wayne Harper sponsors the bill and says the state Department of Transportation would decide which of their already-approved projects they’ll fund with the money.

Legislators say that by using the bond money for road projects, other cash will be freed up to pay for schools.

Harper says state leaders want to take advantage of current low bond rates.