BRADENTON, Fla. — Santa Rosa Bay Bridge Authority bondholders, in limbo since a majority of authority board members resigned and having seen a payment default July 1, may see some relief soon.

The authority, which built the tolled Garcon Point Bridge in northwest Florida with $95 million of revenue bonds issued in 1996, has seen all but one of its volunteer board members step down since late last year because there was no money for an attorney to represent those that received letters from the Securities and Exchange Commission, which opened an inquiry.

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.