Missouri Transportation Agency Ready to Launch $1.7B Plan

Shields, Yvette
February 2005
Bond Buyer;2/28/2005, Vol. 351 Issue 32079, p48
Trade Publication
The article informs that the Missouri Highway and Transportation Commission is planning to issue $400 million of revenue bonds in mid-June, launching a four-year, $1.7 billion borrowing plan made possible by a windfall of cash expected as the result of a constitutional amendment scaling back the diversion of transportation related taxes. Proceeds of the first $400 million sale are earmarked for the commission's smooth road initiative aimed at improving the 2,200 miles of roads that 80% of the traveling public uses. Due to shorter life expectancy of those projects, the final maturity on the bonds would likely be limited to no more than 10 years to match the life of the asset to the debt term.


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