New York's Metropolitan Transportation Authority must consider the age and peculiarities of its system and its strained budget when considering technical enhancements to everything from subway rider safety to fare payments, officials admit.

"If you look at our budgets, you'd know why things always make me nervous," acting chairman Fernando Ferrer said Wednesday. "Hurricane Sandy is one of them."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.