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FDR RELEASE T0 AM'S OF SUNDAY, AUGUST 13. 1951
STATEMENT BY GOVERNOR FARRIS BRYANT
The filing of validation proceedings for the Florida
Turnpike Bonds, on which a hearing has been set for September 1a,
has raised three question deserving of direct answers in order that
consideration of this new issue may be free of confusion and
political pettitoggery.
These questions are:
1. Will the Turnpike be considered by the Bureau of Public
Roads to be a parallel route to Interstate 95 from Daytona Beach to
Fort Pierce and block construction of that segment or 1-95?
Most of the rumors about this have come from a 1956 press
release by the Secretary of Commerce which said:
"There is no intention whatever or building any
interstate route paralleling a toll road which
until 1975 will adequately serve the traffic needs
or the area through which it runs."
Those contending 1-95 will not be built presuppose that
1-95 and the extension or the Turnpike will be parallel. These
proposed highways form the two sides of a triangle, which obviously
are not parallel.
Interstate 95 is designed to serve the traffic that now
fills U. S. 1, plus the traffic that will be generated by its
construction and Florida's growth. It will also meet the military
needs of Patrick Air Force Base and Cape Canaveral. and the needs of
the vast and growing counties of Brevard. Martin, Indian River and
St. Lucie. Because of these needs we propose to build a substantial
segment of Interstate 95 in that area during this administration.
The Turnpike, on the other hand, is designed to serve
Orlando, McCoy Air Force Base, the Martin Plant, and all the
population and industry or that exploding area. It will also tie the
lower East Coast of Florida in with the Central and Northwest areas
or Florida and will provide the only limited access route from Miami
to Atlanta, Chicago and the middle west and West.
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The most obvious answer to the additional contention that
the Turnpike and the Interstate Route will serve identical traffic
corridors is to point out that the Turnpike extension at Orlando is
approximately 50 miles westward or the designated Interstate route,
and at its northern terminus near Wildwood will be approximately 80
miles to the west of 1-95. more than an hour's drive away, even on
high-speed, straight-line highways, which do not exist.
2. Will an agreement be negotiated between the State and
the bondhouses to prevent the construction of Interstate 95 between
Miami and Daytona?
no such agreement has been or will be negotiated.
Prospective bond buyers will expect to know our schedule
for the construction of Interstate 95 so that they can calculate
traffic and income on the proposed turnpike with reliability. We
expect to furnish them that schedule, subject to certain advances
in the timing of construction which we are planning. For instance,
we are planning to build sections of Interstate 95 in the Palm Beach
and Cape Canaveral areas during this administration, in advance or
the original schedule. and will make it clear that we plan to build
additional segments if funds are available. It would appear. how-
ever, at the present time that the only source or additional funds
would be by the deferment of other portions of the Interstate, such
as that from wildwood to Tampa, and we do not believe such a
deferment would be in the best interests of the needs of Florida and
the overall highway planning to which we are committed.
3. The refinancing of the existing "Bobtail" Turnpike is
a part of the present plan and it has been said this will cost
motorists much more in taxes. Is this true?
It is true the refinancing will entail additional costs.
It is not true it will result in additional taxes. The turnpike is
paid for on a use basis and its charges will be well in line or less
than similar projects throughout the nation. Those who use the
Turnpike pay for it, and they pay only for those parts or it on which
they travel.
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The need for refinancing is simple. It is the only way an
extension of any length can be accomplished and it is the only way
the area served by the existing Bobtail section can be freed or
unreasonable restrictions on the construction of free roads in its
vicinity.
Before I assumed office I questioned and refused to
condone a plan to extend the Turnpike to Orlando by means of a
separate bond issue. Since assuming office I have been able to deal
with propriety with more than twenty or the nation's best known
authorities in the bonding field. With the exception of the one
firm with which the prior administration had dealt, these experts
were unanimous in their opinion that the proposals advanced for a
new issue would not stand up in court when its validation was sought
and that it would carry restrictions detrimental to the development
or a comprehensive and balanced program or state and interstate
highways in Florida.
The exact penalty we will pay for refinancing cannot be
known until the bonds are sold. I believe the interest on these
bonds will be below the five percent maximum the law allows, for we
will offer a strong issue backed by the impressive earnings record
of the existing Turnpike segment.
This amount will be well within the bonds or good business
and will more than be offset by the benefits accruing from the
service this extension will provide for the people or Florida and
their visitors.
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