Infrastructure

Chicago Transit Authority president Richard Rodriguez last week said the agency plans to trim $50 million from its next budget by cutting about 70 vacant administration positions and through other measures.

BRADENTON, Fla. — ACA Financial Guaranty Corp. is asking Santa Rosa Bay Bridge Authority bondholders if they are interested in creating a committee to investigate potential resolutions to the northwest Florida issuer’s looming payment default.

DALLAS — The chief financial officer of Dallas Area Rapid Transit said Monday that he is unconcerned by the effect of a downgrade by one of the major rating agencies on the upcoming sale of $825 million of revenue bonds supported by anemic sales tax income.

SAN FRANCISCO — The first public-private partnership project under a program championed by California Gov. Arnold Schwarzenegger could lead to the sale of almost $600 million of private-activity bonds to fund a six-lane roadway to San Francisco’s Golden Gate Bridge.

WASHINGTON — Senior bondholders of a South Carolina toll road’s debt are claiming they are owed at least $237.8 million as they continue to wrestle with state transportation officials over a debt restructuring plan.

WASHINGTON — Despite a renewed push this month for a national infrastructure bank, market participants are at odds over such basic issues as how it would be funded and structured and what projects should receive its help.

CHICAGO — United Airlines and Continental Airlines Inc. are on track to close a merger on Oct. 1 that would create the world’s largest airline based on passenger volume, after shareholders endorsed the union Friday.

WASHINGTON — The Metropolitan Washington Airports Authority is considering options to trim the new $3.83 billion estimated cost of the Metrorail extension project’s second phase in order to reduce the amount of debt that will be needed.

The Port Authority of New York and New Jersey last week committed $1 billion toward revamping or replacing the Bayonne Bridge.

New Jersey Transit will suspend for 30 days new contracts and work on a new passenger-rail tunnel that will run under the Hudson River between New Jersey and Manhattan, as the federal government believes the project may cost an additional $1 billion.