Metropolitan Atlanta Rapid Transit Authority Refunding $111 Million

DeSue, Tedra
May 2003
Bond Buyer;5/9/2003, Vol. 344 Issue 31632, p3
Trade Publication
The Metropolitan Atlanta Rapid Transit Authority will sell $111 million of revenue refunding bonds as of May 2003, in a deal that is expected to save it almost $8 million as the authority contends with historic declines in sales tax revenue used to secure its debt. Poor's and Moody's Investors Service Inc. are expected to affirm their AA-minus and A1 ratings.Proceeds will be used to refund Series 1993A sales tax bonds.Projects to be funded with the next new-money issue include completion of a maintenance facility for rail car storage, improvements to the fare collection system, replacement of the radio information system, and the refurbishment of about 238 rail cars.


Related Articles

  • States weigh mass transit Garvee debt. Kinnander, Ola // Bond Buyer;02/19/99, Vol. 327 Issue 30582, p1 

    Focuses on the sale of Garvee bonds backed by future federal transportation grants by market participants in the United States to finance mass transit. New Jersey's plan to sell $150 million in debt to buy new buses; Plan by a Southeast regional transit authority to sell such bonds; Impact of...

  • Fitch: Falling Tax Revenues Could Lead to Downgrades of Mass Transit Bonds. Sanchez, Humberto // Bond Buyer;6/16/2003, Vol. 344 Issue 31657, p7 

    A recent decline in state and local tax revenue could prompt rating downgrades for bonds issued for mass transit projects, according to a report being released today by Fitch Ratings Inc. Most transit agencies finance projects on a pay-as-you-go basis, but those that issue bonds to expand and...

  • Virginia Official: Borrowing Possible for Dulles-Subway Link. Vadum, Matthew // Bond Buyer;8/01/2003, Vol. 345 Issue 31690, p5 

    Reports that the director of the Virginia Department of Rail and Public Transportation, Karen J. Rae, has acknowledged that bonds might play a role in financing the $1.5 million first phase of the Dulles Corridor rapid-transit project, as of August 1, 2003. Decision of Rae's department to split...

  • Bay Area Ballot Items Take Aim at Transportation Woes. Williams, Rochelle // Bond Buyer;09/15/2000, Vol. 333 Issue 30976, p28 

    Reports the poll for the approval of measures for additional sales taxes and bonds for roads, highways and mass transit in San Francisco Bay Area, California. Conversion of freeways into parking lots; Expansion of the Bay Area Rapid Transit services; Need for a seamless transit system to ease...

  • NJ transit still ahead of the rest with second Garvee sale. Hoffman, David // Bond Buyer;11/05/99, Vol. 330 Issue 30763, p3 

    Reports on the plan of New Jersey-based NJ Transit to conduct a second offering of bonds backed by federal mass-transit grants. Use of the sale's proceeds to purchase train engines and cars for existing rail lines; Plans to structure the second offering as a true Garvee deal.

  • Cost of First Arizona Light-Rail Line Rises by $100 Million. Williamson, Richard // Bond Buyer;3/23/2004, Vol. 347 Issue 31847, p4 

    Reports on the cost of the first light-rail transit system in Arizona. Finance costs; Bonds to be issued by participating cities; Payment for the cost allocated to the cities.

  • WASHINGTON: Sales Tax May Fund Roads. Cohen, Jackie // Bond Buyer;12/22/2006, Vol. 358 Issue 32534, p35 

    The article reports on the move of the Central Puget Sound Regional Transit Authority board of directors to decide on the 20-year 0.5% sales tax increase for route extensions in Washington. The sales tax increase, which will be voted on January 11, 2007, will advance $7.4 billion and big amount...

  • St. Louis Metro Readies Debt Restructuring. SHIELDS, YVETTE // Bond Buyer;6/19/2013, Vol. 384 Issue 33931, p1 

    This article reports on a 375 million dollar-bond to be issued by St. Louis Metro transit in Chicago, Illinois in June 2013. The bond is under a restructuring and refunding that will introduce a lien supported by revenues from sales tax. Retail order period is scheduled on June 26, 2013, with...

  • Bay Area Rail Board Wants $980M For Earthquake Safety Upgrades. Saskal, Rich // Bond Buyer;6/14/2004, Vol. 348 Issue 31904, p1 

    Reports on the approval of the San Francisco Bay Area Rapid Transit District in placing bond authorization for funding earthquake safety updates to the rail transit system on ballot in San Francisco, California. Schedule for the voting; Total amount of the bond; Importance of the transit system...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics