DALLAS - With a deadline less than a month away, the North Texas Tollway Authority managed to complete the takeout of $3.5 billion of bond anticipation notes with the sale of $425 million of revenue bonds last week.

Had the market not cooperated, the NTTA was prepared to issue another round of Bans to refund last year's notes due Nov. 19. As it turned out, the market was so receptive that the NTTA increased the amount of the sale from the $300 million needed to refund the notes to $425 million, with the extra money going to existing projects.

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