Over the summer and into the fall, the principles that this plan would have to adhere to were announced. These principles not only dictated the confines of how the plan would be created, it also highlighted what would not be in this plan:
- New Jersey's roadways will not be sold; and they will not be leased to a for-profit or foreign operator.
- Allowable uses of proceeds (reducing State debt and capital investments) will be identified upfront and subject to public and/or legislative approval with safeguards against diversions for other uses.
- New Jersey citizens will retain ownership and the benefits from both initial proceeds and ongoing operations.
- Safety, maintenance and operating standards will be provided at current or improved levels.
- Sufficient funding to meet the long-term capital needs required to improve our roadways and reduce congestion will be provided.
- Terms and conditions of employment for current employees and contractors will remain unchanged with prevailing wage and competitive contracting procedures retained.
- Toll schedules will be open, predictable and available to the public.
- There will be a substantial, open and public discussion in advance of any transaction. I will hold 21 town hall meetings in 21 counties.
- Reduce the State's bonded debt by at least 50 percent.
- Provide permanent funding for the Transportation Trust Fund.
- Establish new limits on State borrowing.
Follow the link below to read some of the Frequently Asked Questions that have arisen so far in this debate.