The New Jersey Transportation Trust Fund Authority Tuesday is expected to approve the sale of $600 million of tax-exempt revenue bonds that would price in early May.

The Series 2011 bonds will be the final borrowing for the TTFA under its current financing strategy. After this sale, the fund’s entire existing $895 million annual appropriation from the state will be needed to pay down debt-service costs on more than $12 billion of outstanding TTFA debt.

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