Today is an exciting day in the history of the department as well as the state of North Carolina.
This event is the realization of one of my top priorities-to secure more maintenance funding for our highway system.
Today I am announcing our plans to move forward with landmark legislation that will allow the department to use a portion of its cash balances for maintenance-for a total of $420 million during the next three years.
We are joined today by our legislators in this effort.
We commend you for the support and passage of what is undoubtedly the most significant transportation legislation since the Highway Trust Fund in 1989.
As a result, citizens from the mountains to the coast can expect to see a major improvement in the quality of their highways.
In response to the General Assembly's tremendous foresight, it's important for everyone to know that we are moving ahead with quick action.
The week following the passage of this legislation, several much-needed maintenance projects were advertised for bid.
Let me put in perspective for you how important this legislation is. Under our current funding system, it might be 10-20 years before some of these roads would ever be resurfaced. In fact, some of these projects would not have been completed for many generations.
Tomorrow and at the meeting in December, this Board is scheduled to approve projects for more than $153 million for the first year of funds, which will improve more than 400 miles of highway across the state.
Following your approval, construction on these projects will begin as soon as weather permits-or as soon as competitive bids are received.
There are two more years left in the program-$135 million in both the second and third years.
Contracts for maintenance projects for the second year will be let in 2002 and, for the third year, in 2003.
Since this legislation was passed, the department has been working vigorously to get these projects ready for bid.
Now that the projects are about to be awarded, we will be relying on the contracting community-which is represented today by Otis Vaughn, President of the Carolina Asphalt Pavement Association-to put these funds to work.
Otis, it is our duty to be good stewards of this money and we will be depending on the contracting community to ensure that all the work associated with these projects is of the highest standards and quality to which we have become accustomed.
We are also asking that you complete this work in a timely manner.
This last point is crucial because we have two more years left in this program and therefore, much more work to be accomplished.
In addition to the paving contractors, the citizens of North Carolina will be greatly pleased.
The good news doesn't end with maintenance.
As part of this legislation, the department will also be able to use $120 million from our cash balances during the next three years for public transportation.
We'll also be able to use up to $17 million for urban and rural economic development across the state.
We'll use $45 million to install high-end technologies to improve traffic flow such as closed loop traffic signal systems, vehicle detection systems and incident management systems.
And finally, we'll invest $45 million for the planning and design of "shelf projects" or projects outside the department's current seven-year Transportation Improvement Program that can be ready for construction when other projects are delayed and funding becomes available.
A safe, well-maintained and integrated transportation system is a vital part of Governor Easley's plan for One North Carolina.
In every way, this legislation brings us one step closer to that vision.
Senators Gulley and Robinson, Representatives Buchanan and Cole, would you like to say a few words?
We'll start with Senator Gulley.
(GULLEY MAKES REMARKS.)
Senator Robinson, would you like to speak?
(ROBINSON SPEAKS.)
Representative Buchanan, would you like to speak?
(BUCHANAN SPEAKS.)
Representative Cole, would you like to speak?
(COLE SPEAKS.)
Thank you.
Now, I'll ask Otis Vaughn, President of the Carolina Asphalt Pavement Association to make a few remarks.
Thank you, Otis.