The Legislative Assembly finds and declares that:

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(1) Interstate toll bridges owned by local governments provide critical links for the transport of workers, services, tourism and emergency response between the State of Oregon and the State of Washington, and for Oregon businesses to transport local agricultural products, forest products, rock, gravel and manufactured products within the region and to national markets.

(2) Existing interstate toll bridges owned by local governments are becoming functionally obsolete, weight-restricted, seismically deficient and hazardous for marine freight, and need to be replaced.

(3) Replacement of aging interstate toll bridges by local governments is extremely challenging, and the local governments that own or are served by the bridges require additional means to address the problem. For some bistate regions, the successful replacement and subsequent operation of interstate toll bridges is best accomplished by an independent bistate governmental authority, chartered by local governments, with sufficient powers to efficiently and equitably develop, operate, maintain, toll and finance a replacement bridge. [2022 c.7 § 1]