N.J., N.Y. Agencies Take to the Roads With Close to $2 Billion

Fine, Jacob
June 2003
Bond Buyer;6/23/2003, Vol. 344 Issue 31662, p9
Trade Publication
The New Jersey Turnpike Authority plans to sell $ 1.45 billion of municipal bonds through negotiated sale, $ 723 million of which will be taxable, to merge the two agencies that run the Garden State Parkway and the New Jersey Turnpike. The deal will allow the state to make some improvements on the congested parkway, and defer toll increases. The $ 727.54 million tax-exempt included in the deal, consisting of Series A bonds, will be structured as serials maturing from 2019 to 2023, and term bonds in 2027 and 2030.


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