WASHINGTON — The North Carolina Turnpike Authority’s board moved forward with a $650 million toll road bond deal — its first and the largest of any issuer in the state — after obtaining bond insurance from Assured Guaranty Corp.

The deal, which could be priced as early as June, will finance North Carolina’s first toll road to be built in a century — the 18.8 mile Triangle Expressway around Raleigh. The highway is expected to provide congestion relief around the Research Triangle Park and three universities.

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