Word: tunnelled
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Dates: during 1970-1979
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When the Chesapeake Bay Bridge-Tunnel opened in 1964, it was widely described as an engineering marvel and a surefire tourist attraction. Its 17½ miles of open spans and underwater tunnels connect Virginia's Cape Charles with the Norfolk area, uncorking what had been a major traffic bottleneck between New York and Florida. The 25-minute scenic crossing costs $4 for car and driver, plus 85? for each passenger-just pennies more than the old 90-minute ferry fare of $3.85 for car and driver. Yet traffic on the world's longest bridge-tunnel has been only...
...bridge-tunnel cost $140 million, but to provide a reserve for a rainy day, Virginia's state-run Bridge-Tunnel District raised $200 million in three bond issues. The reserve has been largely exhausted to pay interest during the past six money-losing years. Unless the district can arrange emergency financing, it will have to skip the second half-interest payment of $2,875,000 on $100 million of 5¾% C-series bonds next July. In that event, the interest obligation would accumulate but would be paid only if and when funds are available. Venturesome investors...