Infrastructure

Another fare increase could be on its way for New York's Metropolitan Transportation Authority as it grapples with falling revenue and increased costs that are pushing $2.7 billion of projects into the 2010-2015 capital plan.

BRADENTON, Fla. — Broward County, Fla., is working on a plan to refund up to $110 million of auction-rate securities and replace the debt with variable-rate demand obligations with a new, triple-A rated bond insurance policy.

CHICAGO — In its second refunding since mid-April, the Wayne County Airport Authority plans to enter the market Wednesday with roughly $330 million in variable-rate demand bonds that will take out all the authority's auction-rate debt.

WASHINGTON — Virginia Gov. Timothy Kaine is hoping state lawmakers will embrace his transportation funding plan, which they will consider during a special session that begins today.

SAN FRANCISCO — Los Angeles International Airport plans to sell $950 million of revenue bonds next month in its first major new-money issue in more than a decade.

The nation's governors are urging Congress to pass legislation that would offset the huge deficit projected for the highway trust fund in fiscal 2009.

DALLAS — Gilbert, Ariz., will begin an extensive, multi-year effort to widen streets throughout the Phoenix suburb with next week's competitive sale of $188 million of general obligation bonds.

DALLAS — Bonds supported by a 4 cents-a-gallon gasoline tax will not be sufficient to complete Louisiana's $4.9 billion Transportation Infrastructure Model for Economic Development program as gas tax revenues fail to keep up with inflated construction costs.

CHICAGO — The combined needs of struggling municipalities, financially strapped airlines, and labor could spark a national wave of interest in airport privatization if Chicago pulls off its plan to lease Midway Airport as expected, a key legal adviser on the proposal predicts.

WASHINGTON — Traffic congestion across the United States increased nearly 2% in 2007 over 2006, according to a report released yesterday by INRIX, a private company that analyzes national traffic patterns.