Board OKs sale of $100M in bonds for Vegas freeway

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Updated: 1/13 6:50 pm

CARSON CITY, Nev. (AP) — State officials are on a fast track to ease traffic gridlock on Interstate 15 in Las Vegas.

The state Board of Transportation on Monday approved the sale of $100 million in bonds to buy right of way for the freeway expansion known as Project Neon.

Total cost is estimated at $1 billion. The project will be a partnership between the state and a private company that will help finance, build and maintain it.

The Las Vegas Sun reports that according to Department of Transportation, three companies have expressed interest and one may be selected later this year.

The bonds are expected go on sale in late February.

About 257,000 vehicles a day travel the stretch of freeway being widened from Sahara Avenue to the Spaghetti Bowl.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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