Mississippi River Toll Bridge, Prairie du Chien, Wisconsin: Preliminary Engineering Report by the Iowa State Highway Commission, July 1968

(1968) Mississippi River Toll Bridge, Prairie du Chien, Wisconsin: Preliminary Engineering Report by the Iowa State Highway Commission, July 1968. Transportation, Department of

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Abstract

Prairie du Chien does not provide adequate traffic service in the bridge travel corridor. The bridge is built to a design standard which is not commensurate with modern, two-lane bridge design, the approaches in Iowa are poor and load limitations are in effect which prohibit use of the bridge by a high percentage of the heavy trucks moving in the travel corridor. Construction of a new bridge to replace the present U.S. Route 18 facility would cost approximately $7,830,000. A bond issue, adequate to meet initial construction costs of approximately $9,396,000 would be required. After deducting annual maintenance and operation expenses, net revenues would average $831,000 over the assumed 28-year earning period of a thirty-year bond issue. Assuming a 5.5 per cent interest rate, annual payments to meet both interest and amortization of the bond issue would be approximately $665,000. Average annual net revenues over the earning period would provide a coverage of level debt service of 1.25. This coverage value is close enough to the 1.50 level normally considered indicative of financial feasibility to warrant further more detailed studies which could lead to revenue bond financing of this project. The net revenues generated by the facility would meet level debt service requirements and provide a 25 per cent margin over the earning period of the bond issue.