State won’t jump on the GARVEE train, officials say (PA Independent)
HARRISBURG — Should Pennsylvania decide to overhaul its transportation infrastructure, chances are it won’t involve adding to a heap of state debt.
But its options are limited.
GARVEE bonds, short for grant anticipation revenue vehicles, offer states upfront funding for construction projects. The borrowing happens in anticipation of future federal aid, acting as an advance of federal […]