N.Y. MTA Looking for $850M To Back Bonds for Capital Plan

McDonald, Michael
December 2004
Bond Buyer;12/7/2004, Vol. 350 Issue 32024, p1
Trade Publication
The article reports that New York's Metropolitan Transportation Authority (MTA) wants the state to hike a number of taxes and fees, including levies on fuel and real estate transactions, to generate about US$850 million a year of dedicated revenues that it would use to back bonds to pay for about half of a US$28 billion capital plan. The MTA also warned that if the state dos not provide the additional funding, the MTA would have to cut capital spending and abandon investments planned for expansion projects.


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