Delaware Reportedly May Sell Toll Portion of I-95

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he state of Delaware may sell a 24-mile toll portion of Interstate 95 and two other highway sections to investors, Bloomberg reported Wednesday.

The move would be to help reduce a $270 million gap at the Delaware Department of Transportation's trust fund, Bloomberg said, citing the Bond Buyer newspaper.

Such a sale could give the buyer rights to collect tolls on the highways for 99 years, the paper said.

It would be used to reduce or retire $900 million in revenue bonds issued by DDOT, the newspaper said, citing a legislative analyst in the state controller's office, Bloomberg reported.

The department's deficit increased significantly this year after higher gas and steel prices boosted the cost of road projects, the paper reported.

Bloomberg said the paper reported that a committee appointed by Governor Ruth Ann Minner (D) has until November to present its recommendations.