Associated Press
 
June 15, 2009
 
PORTLAND, Ore. -- Sen. Ron Wyden says Oregon counties and cities will be able to tap more than $100 million in borrowing authority to finance bridge, road, water, school, and transit projects.
 
He said Monday the financing comes from Recovery Zone bonds, part of the federal economic stimulus package. He says they are designed for areas hit particularly hard by the economic crisis, and the Oregon package could support about 3,500 jobs.
 
Wyden said in a statement the bonds carry a federal tax credit that can lower borrowing costs.
 
He says 29 counties and three cities, Eugene, Salem and Portland, will be able to issue the bonds.