TITLE

Dallas Area Rapid Transit's $1 Billion Rail Project Could See 3-Year Delay

AUTHOR(S)
Williamson, Richard
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/1/2003, Vol. 344 Issue 31626, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Dallas Area Rapid Transit's (DART) one billion light-rail expansion faces delays of up to three years due to a budget crisis that could alter the regional authority's pattern of debt issuance. Officials fear failure to extend coveted light-rail lines to Dallas suburbs on schedule could also lead some cities to drop out of the authority, eroding DART's tax base and debt capacity. Under the law that created DART, cities can vote every six years on whether to continue raising sales tax revenue for the agency.
ACCESSION #
9810672

 

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