Infrastructure

The Illinois State Toll Highway Authority board approved two slates of financial teams to underwrite roughly $1 billion of toll-backed borrowing planned in its next two financings.

A plan released by the Washington Metropolitan Area Transit Authority details $6 billion of investment the nation's second-busiest subway system needs to make over the next 12 years, and stresses the need for new revenue to support it.

Southwest Airlines and Los Angeles International Airport will fund up to $400 million in Terminal 1 improvements if the Los Angeles City Council approves the plan.

Gov. Andrew Cuomo's proposed $142.6 billion budget for 2013-14 included some plusses for New York City and the Metropolitan Transportation Authority.

Louisiana has delayed the single-tranche sale of up to $350 million of highway improvement revenue bonds, shifting to a plan for phased issues over three years.

With only one proposal for a $1 billion managed toll lanes development on Airport Freeway in the Dallas-Fort Worth area, the Texas Department of Transportation is enlarging the project and seeking more bidders.

Virginia Gov. Bob McDonnell announced on Tuesday that he will recommend over $2 billion of funding for hundreds of transportation projects statewide, new money projected to come from his controversial overhaul of the commonwealth's gas and sales taxes.

The Alameda Corridor Transportation Authority on Jan. 24 plans to price a $265 million refunding that is part of a debt restructuring plan.

Little Rock will save $2 million a year in debt service with a refunding of $24.7 million of airport revenue bonds from 1999 that financed projects at Bill and Hillary Clinton National Airport.

The FAA has cleared the path for Chicago to consider privatizing Midway International Airport, allowing for its release of a request for qualifications from potential bidders.