The New Jersey Turnpike Authority approved up to $2.53 billion of new-money and refunding bonds Tuesday to help finance capital projects and generate potential debt-service savings.

John O’Hern, the authority’s deputy executive director, said the 148-mile-long New Jersey Turnpike is in the middle of a road-widening project that will “ramp up” construction spending in 2011 and 2012. The authority oversees both the Turnpike and the Garden State Parkway toll roads.

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.