The New Jersey Transportation Trust Fund Authority on Thursday approved a $1.4 billion new-money and refinancing deal that will most likely include taxable Build America Bonds.

Officials anticipate issuing the debt in late September or October. Preliminary plans include $990 million of new-money bonds to help finance road, bridge, and mass transit projects, and $439 million of refunding debt, according to TTFA executive director Gary Brune. The authority will probably offer the new-money bonds as BABs rather than tax-exempts, depending upon market conditions.

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