Infrastructure

CHICAGO - A federal Second Circuit Appellate Court panel has upheld a lower court decision allowing a majority of investors who held $414 million of Kenton County, Ky., Airport Board bonds issued for Delta Air Lines Inc. to enter into a settlement as part of Delta's 2005 bankruptcy over the objections of a small group of bondholders.

Massachusetts Gov. Deval Patrick last week proposed increasing the state's gas tax by 19 cents per gallon and reorganizing its transportation bureaucracy.

BRADENTON, Fla. - Florida Gov. Charlie Crist on Friday proposed a $66.5 billion budget for fiscal 2010 that includes $2.5 billion of debt.

DALLAS - The North Texas Tollway Authority said yesterday that it had restated its 2008 financial statement to correct a $105.5 million accounting error.

States and localities that adhere to prevailing wage standards and that have projects that can be built with American materials could be better positioned to receive stimulus funding for infrastructure projects, although it may take several months for stimulus funds to trickle down to local levels, sources said this week.

DALLAS - The Louisiana State Bond Commission delayed a decision yesterday on a planned May sale of $685 million of gasoline and fuel tax bonds after transportation department officials asked for more time to negotiate a financing plan for the bonds.

Louisiana highway officials told a state legislative subcommittee last week that the bond-financed John J. Audubon Bridge over the Mississippi River should open in November.

The Orlando-Orange County Expressway Authority said Tuesday that dwindling toll revenues will require an increase in tolls to protect the agency’s bond rating, according to a local report by WFTV.

DALLAS - A powerful Texas lawmaker who steered milestone transportation legislation through the 2007 session has introduced a bill that would allow counties to raise fuel taxes and fees to bond for rail and road construction.

The Massachusetts Bay Transportation Authority faces a $165 million deficit for fiscal 2010, which begins July 1, as debt service costs for the transit agency will increase by $77 million to $445 million.