Infrastructure

Ohio is offering $1.1 billion of bonds backed by a new junior-lien credit pledge from the Ohio Turnpike Tuesday in a transaction key to the state's plan to shore up its long-term infrastructure spending.

The financing structure of Orange County Transportation Authority's $124 million refunding planned for Tuesday represents an evolution in financing for managed lane projects.

Connecticut's Bond Commission on Friday approved more than $537 million in state funds to finance transportation construction and maintenance projects.

Massachusetts lawmakers overrode Gov. Deval Patrick's veto of a $500 million transportation funding bill that will raise the gasoline tax by 3 cents per gallon.

Arkansas will issue $500 million of 10-year bonds for highway projects in September, down from an initial projection of $1.3 billion of new debt. More pay-as-you-go financing will be used.

Three leaders of Senate committees that oversee transportation are calling for colleagues to work together to address the Highway Trust Fund shortfall that is expected to occur after the current funding law expires on Sept. 30, 2014.

Congress should consider eliminating tax exemption and privatizing infrastructure to subject it to property taxes in order to broaden the tax base, a director from the right-leaning think tank, Cato Institute, said this week.

California's plans for a $68 billion high-speed rail system attracted Katherine Perez-Estolano, one of the state's most well-known transportation planners, to its board despite a series of issues faced by the project.

U.S. Transportation Secretary Anthony Foxx said his office is trying to make sure that money authorized for the Transportation Infrastructure Finance and Innovation Act program is being quickly loaned out for projects, though experts said the process could be improved.

A watchdog group asked the Office of Congressional Ethics to launch an ethics investigation into a potential conflict of interest involving the David Valadao, R-Calif. on legislation aimed at killing California's high-speed rail project.