Texas Sets a Record Road Deal

July 2010
Bond Buyer;7/6/2010, Vol. 373 Issue 33344, p1
Trade Publication
The article reports on the deal preparation of the Texas Transportation Commission regarding a 1.5 billion dollars bond issue under the Proposition 14 program that designates fuel taxes and vehicle fees to highway construction. According to analyst Horacio Aldrete-Sanchez, the program allows the management to speed up certain projects while maintaining high debt-service coverage. Moreover, Texas only received 70% back for highways from federal fuel taxes.


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