Oklahoma Transportation Department Warns of Looming Debt Service Burden

Watts, Jim
January 2005
Bond Buyer;1/6/2005, Vol. 351 Issue 32044, p28
Trade Publication
The article reports that the director of the Oklahoma Department of Transportation (ODOT) said Tuesday that his agency is spending millions of dollars that should go to road maintenance to pay the debt service on $450 million in highway revenue bonds that the state Legislature promised to support, but failed to fund. Transportation director Gary Ridley told the state Senate Transportation Committee that ODOT has paid $35 million of debt service on the bonds over the last two fiscal years, but the bill will balloon to almost $70 million a year from fiscal year 2006 through fiscal year 2008.


Related Articles

  • Kansas Panel OKs $210M for Highway Improvement Program. Watts, Jim // Bond Buyer;1/23/2006, Vol. 355 Issue 32303, p28 

    The article reports on the approval of sale of 210 million dollar general fund bonds by Kansas for a highway improvement program that began in 1999. The Kansas State Finance Council has voted 8 to 1. The Kansas Development Finance Authority will issue the bonds. Single series will be used to...

  • Florida Gears Up for $311M of Public Education Capital Outlay Bonds. Sigo, Shelly // Bond Buyer;1/7/2005, Vol. 351 Issue 32045, p3 

    The article reports that Florida is preparing to competitively sell $311 million of public education capital outlay refunding bonds for its first deal of the year. The Series 2005A bonds currently are on the day-to-day calendar. The Division of Bond Finance, which acts as its own financial...

  • Arkansas Road Recommendations Include $1.8B of Tax-Backed Bonds. Watts, Jim // Bond Buyer;11/22/2010, Vol. 374 Issue 33420, p3 

    The article reports on the recommendations of the 18-member Arkansas Blue Ribbon Committee on Highway Finance on how to finance the improvements of the district's highways and local roads and they include the inclusion of a 1.8 billion of revenue bonds.

  • Petaluma, Calif., Targets Shoddy Streets With a Possible $164M Sale. Williams, Rochelle // Bond Buyer;8/15/2001, Vol. 337 Issue 31203, p33 

    Reports on the plan of Petaluma, California to issue as much as 164 million dollar in bonds to rebuild its roads. Structure of the bonds; Support for the use of tax to rebuild roads.

  • N.J. Turnpike's Jump Start. Mercurio, Stephanie // Bond Buyer;04/04/2000, Vol. 332 Issue 30863, p1 

    Reports on the New Jersey Turnpike Authority's plans to issue refunding bonds, restructured debt and new debt to finance the renovation of the tollway. Ratings given to the deal; Implications of the bond issue on the market; Factors generating interest in the deal; Plans to price the deal based...

  • In Texas, What Goes Up…. Williamson, Richard // Bond Buyer;12/4/2007, Vol. 362 Issue 32766, p1 

    The article reports that Texas debt issuance has soured 72% in fiscal 2007 to $5.87 billion, but the rate is likely to slow amid growing economic headwinds. The Texas Bond Review Board noted that the state's economy began slowing in the second half of fiscal 2007, which ended August 31. The...

  • Illinois Gov. Blagojevich Proposes $8.2B Road Program, With $2B of Bonds. Shields, Yvette // Bond Buyer;4/23/2004, Vol. 348 Issue 31869, p34 

    Reports on the proposed road improvement program of Governor Rod Blagojevich in Illinois. Value of the proposed improvement program; Reliance to general obligation debt; Inclusion of the bond authorization with fiscal budget 2005.

  • NTTA Stepping Up With $2.3B Deal. Williamson, Richard // Bond Buyer;3/4/2008, Vol. 363 Issue 32828, p1 

    The article reports on the $2.3 billion revenue bond deal of North Texas Tollway Authority (NTTA) as part of its plan to develop the State Highway 121 turnpike. The bonds will take out a portion of $3.5 billion of bond anticipation notes and be divided into five series. NTTA will offer $1.4...

  • Oklahoma Governor Ensures Debt Service in Road Plan. Watts, Jim // Bond Buyer;1/27/2006, Vol. 355 Issue 32307, p5 

    The article reports that Oklahoma Governor Brad Henry's road plan for allocating another $250 million over 10 years to the maintenance of roads and bridges includes a pledge to fully fund debt service on about $450 million in highway bonds issued in 1998 and 2000. The Legislature appropriated...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics