smau compared to tne run cost

smau compared to tne run cost of yearly land acquisition. In the 12-month period just ended, for example, the High way Department spent more than $40 million on right-of way purchases. Although a large percentage of the land needed for the huge interstate system has now been bought, much more ‘ will be required as the State continues development of its network of multi-lane, divided arterial highways and undertakes other projects. Under the 1964 General Assembly action, year-end unappropriated balances in highway money are to be channel ed into the advance right-ofway fund until the total reaches $10 million. Then, a.s allocations are made in Subsequent years for projects on which the right-of way has already been purchas ed the revolving fund will be reimbursed to finance further advance purchases. The law creating the fund became effective with the end of fiscal 1963-64, but since the Department closed out that year with a deficit of $2.2 million, no money was available then. Legislation creating the fund was recommended by the Vir ginla Highway Study Commis sion. It was designed to mini mize the cost of road construction by permitting the Department, when possible, to purchase necessary right of-way before land is highly developed. Such development of course, boosts land valuer

A final report issued today, after the Department’s financial books were closed for the fiscal year, actually show (ed that its estimates of revenue from State sources,

[made 18 months ago and based on immediate past experience, were exceeded by $8,398,826.

Receipts from the motor fuel tax accounted for the largest share, having been estimated at $105,400,000 but producing $110,590,000. Motor vehicle licenses, under the first full year following increases in rates by the 1964 General As sembly, brought in$50,886OGO. The license estimate had been $47,507,000.

Receipts from all State