Infrastructure

Iowa Gov. Terry Branstad last week made good on his promise to reject any one-year spending bills by vetoing a measure that provided about $350 million for transportation programs in fiscal 2012.

The Santa Rosa Bay Bridge Authority, which oversees the Garcon Point Bridge in north Florida, appears to be headed for default in July.

DALLAS — The Texas Transportation Commission has cleared the way for financing a $1.6 billion toll road in Dallas County that leverages a federal loan and the TTC’s strong credit ratings.

Florida Gov. Rick Scott Monday took credit for federal budget cuts to high-speed rail funding that were in the continuing resolution signed by President Obama over the weekend.

DALLAS — The Texas Department of Transportation would get another $3 billion of bond authorization under a proposal from the chairman of the state Senate Transportation and Homeland Security Committee, but he said finding a long-term solution to the chronic problem of highway funding is not likely in the current session.

Moody’s Investors Service this week downgraded to Baa2 from A3 $16.1 million of revenue bonds issued by the Capital Region Airport Authority, which serves the state capital of Lansing.

WASHINGTON — House Transportation Committee chairman Rep. John Mica on Monday charged the Obama administration failed to justify many of the high-speed rail and so-called TIGER transportation grants it made to state and local governments.

WASHINGTON — High-speed rail and community development block grant funds were among the $2 billion of cuts in a “bridge” continuing resolution enacted Saturday, which narrowly averted a federal government shutdown.

CHICAGO — Fitch Ratings affirmed O’Hare International Airport’s third-lien general airport revenue bond rating and raised its passenger facility charge-backed credit as Chicago prepares to enter the market next week with $1.1 billion of airport bonds.

The New Jersey Transportation Trust Fund Authority Tuesday is expected to approve the sale of $600 million of tax-exempt revenue bonds that would price in early May.