Judge Denies TRO; Tex. Toll Debt Closes

Albanese, Elizabeth
March 2005
Bond Buyer;3/3/2005, Vol. 351 Issue 32082, p1
Trade Publication
The article reports that the Central Texas Regional Mobility Authority delivered $233 million of toll revenue bonds recently, just after an Austin judge denied a request for a temporary restraining order that would have halted the closing. Mike Heiligenstein, the authority's executive director, said that a higher cost of issuance would have affected coverage levels, which in turn could have affected insurance and other issues associated with the transaction. State District Court Judge Paul Davis denied a request for a temporary restraining order from plaintiffs who filed a lawsuit against the authority on Tuesday. People for Efficient Transportation, a group opposed to toll roads, and Travis County cab driver Hannah Riddering, filed a lawsuit in Travis County District Court alleging that the terms of office served by the authority's board of directors do not comply with a provision in the state constitution.


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