Going Long: Seattle Monorail Aims To Go Beyond 40-Year Maturities

Kelemen, Jasmia
February 2005
Bond Buyer;2/3/2005, Vol. 351 Issue 32063, p1
Trade Publication
The article reports that Seattle Monorail Project officials want state legislators to allow the agency to sell bonds with maturities beyond the current limit of 40 years to pay for construction of its elevated track. Officials expect the $1.6 billion project to be almost entirely financed with bonds backed by a motor vehicle tax that voters approved in 2002. Lawmakers in Olympia, Washington, are mulling a measure, SB 5534, that would give officials the option of issuing bonds beyond the 40-year limit in order to hedge against any risk that the motor vehicle tax falls short of expectations, project finance director Jonathan Buchter said.


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