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Challenging the Wisdom of the Trans Texas Corridor.
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Texas sets two $1 bln road bond sales,
NEW YORK, March 7 (Reuters) - Texas plans to sell about $1 billion of Mobility Fund tax-exempt bonds this summer and to also offer $1 billion of highway fund revenue bonds sometime this year, the state Department of Transportation said on Wednesday. Underwriters could be chosen as soon as two weeks or so, said James Bass, chief financial officer. Texas has one of the biggest U.S. highway privatization plans, and the U.S. government has approved a possible $1.8 billion private activity bond sale, most likely via a conduit issuer, for its State Highway 121 expansion, Bass said. This bond sale, however, hinges on several conditions. The hurdles -- which might be cleared as soon as this summer -- include the developer, Spanish firm Cintra Concesiones de Infraestructures de Transporte, winning required environmental approvals, finalizing its deal with Texas and determining its financing needs, Bass explained. State Highway 121 runs through Collin and Denton Counties, located near Dallas-Fort Worth, one of the state's fastest growing centers. |
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This Page Last Updated: Thursday March 08, 2007