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$15 million road project? Just charge it.

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Published: Nov. 21, 2005 at 11:39 AM

PORT ST. LUCIE, Fla., Nov. 21 (UPI) -- A Florida city is leading the way in the latest trend of big purchases -- they're buying a $15 million turnpike with a credit card.

Port St. Lucie officials say there are many benefits to using credit cards, especially with such a large purchase as turnpike, the Palm Beach Post reports.

The city, like others in the state, state agencies themselves and universities have long opted for plastic when making purchases as a way to safeguard against fraud.

Those buys were for things like staplers and computers, though.

The turnpike project, which will also include a bridge, hiking the price up to $24 million, will get the city $125,000 in cash-back rewards.

They also can take advantage of the six-week period until the credit card bill is due, can dispute fraudulent purchases with the credit card company and benefit from consumer protections.

Deputy Budget Director Cheryl Shanaberger said making the purchase on credit is easier because they pay one vendor instead of thousands of different purchase orders for materials.

The payment is split into a number of installments but the city thinks it still is better this way.

So much better that next year officials plan to charge a $27 million road project.

© 2005 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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