Infrastructure

A decision by the Los Angeles World Airports board of commissioners would appear to soften their stance on returning LA/Ontario International Airport to local control, though LAWA has posted a new website saying otherwise.

WASHINGTON — As both the House and Senate began debating highway reauthorization bills on Wednesday, the associated revenue measures came under attack.

The Port Authority of New York and New Jersey will earmark about half a billion dollars to renovate the 80-year-old George Washington Bridge, using money from toll and fare increases the bi-state agency recently implemented.

The Federal Aviation Administration reauthorization bill that President Obama signed into law Tuesday did not give airports new flexibility to raise fees used to back bonds, but an analysis by Moody's Investors Service said the law will still strengthen airport credits.

BRADENTON, Fla. — Metropolitan Atlanta Rapid Transit Authority officials said Tuesday that the American Energy and Infrastructure Jobs Act creates funding uncertainties because it would eliminate federal fuel taxes now dedicated for transit agencies.

Missouri Gov. Jay Nixon last week said any plan to implement tolls on Interstate 70 to fund its rebuilding should go before voters.

CHICAGO — Chicago Mayor Rahm Emanuel's finance team will introduce to the City Council this week an ordinance seeking approval to refund up to $1.75 billion of O'Hare International Airport general airport revenue bonds and passenger facility charge bonds for savings.

Stung by a scathing auditor's report that called the Port Authority of New York and New Jersey dysfunctional, its board of commissioners responded by saying it would not be business as usual at the bi-state agency.

The restructuring of three series of variable-rate demand bonds totaling $500 million by New York’s Triborough Bridge and Tunnel Authority is a credit-positive because it eliminates the risk of failed remarketings related to the credit of failed Dexia Credit Local, Moody’s Investors Service said in a report.

Michigan Gov. Rick Snyder unveiled a $48.2 billion fiscal 2013 budget that he said reflects the state's improving fiscal position, boosting spending for education and roads and making a deposit into the state's anemic rainy-day fund.