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Memorandum to Connie Kiriu <br /> February 13, 1998 <br /> Page 4 <br /> ISTEA <br /> 1 a. Should the bond authorization not be approved, the County would not be able to provide <br /> matching funds for road projects and would lose Federal monies. New road construction <br /> and improvements to existing major roadways would be very difficult to accomplish <br /> without the ISTEA program. <br /> lb. If funding availability is delayed, monies would shifr to other Counties or to State <br /> projects. <br /> 1 c. ISTEA projects are part of the State Transportation Improvement program which <br /> undergoes periodic review and update. <br /> 2. Fuel tax is utilized to some degree as matching funds for resurfacing projects, however <br /> these monies are not enough. Also, fuel tax cannot be used for new road construction. <br /> 3. Authorizing the bond float would allow the County to better plan and manage projects <br /> under the ISTEA program. <br /> Should you have any questions, please contact me. <br /> <br /> cc: Harry Takahashi, Finance Director <br /> Russell Kokubun, Deputy Planning Director <br /> <br />