New Jersey is seeking underwriting services as the state’s Transportation Trust Fund Authority plans to issue $600 million of tax-exempt, new-money bonds by April 15 to help finance roads, bridges, and public transportation.

This will be the fund’s final new-money issuance under its current legislative borrowing authorization. After this transaction, the fund’s entire $895 million yearly allocation will need to cover principal and interest payments. The TTFA bonds are appropriation bonds backed by gas and motor-fuel taxes.

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