Montgomery County Toll Road Authority moves forward on sale of bonds for Hwy. 249 toll road


Following the Montgomery County Commissioners Court meeting May 8, the Montgomery County Toll Road Authority approved a resolution with a 3-2 vote authorizing the issuance, sale and delivery of revenue bonds to fund the Hwy. 249 toll road extension through the county. Montgomery County Precinct 4 Commissioner Jim Clark and Precinct 3 Commissioner James Noack voted against the resolution.

MCTRA is made up of the four county commissioners.

Richard Muller, attorney for MCTRA, said this is the first step to finalizing the funding for the county’s segment of the Hwy. 249 toll road extension. The next steps include negotiating the price of the bonds, which should be set within two weeks, he said. Afterward, Texas Attorney General Ken Paxton must review and approve the bond contract. The county plans to close on the bond deal by June 15, Muller said during the meeting.

The extension of Hwy. 249 through Harris, Montgomery and Grimes counties is a joint project between the Harris County Toll Road Authority, the Texas Department of Transportation and MCTRA. MCTRA’s portion, estimated to cost $63 million, stretches 3.6 miles from just north of Spring Creek to FM 149.

Commissioners debated the financing of the project and amended a loan agreement in April.

Share this story

Comments are closed.

Back to top