BRADENTON, Fla. — A new turnpike authority in North Carolina is preparing its first bond issue — $635 million for a toll road in the Raleigh/Durham area — as it also moves forward with a plan for a new toll bridge to the Outer Banks utilizing the state’s first public-private partnership.

The North Carolina Turnpike Authority is expected to make its debut offering in September to finance a major portion of the 18.8-mile Triangle Expressway. The toll road is estimated to cost as much as $960 million and would create a bypass west of Raleigh to help relieve heavy traffic congestion on existing roads serving the area and its famed Research Triangle Park. A subordinate federal loan will be sought for nearly $400 million of the financing.

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