New York's Metropolitan Transportation Authority plans to market bonds on a new credit using a new dedicated revenue stream that the state established last week, officials said at a special board meeting convened yesterday to reduce fare and toll increases.

"Our expectation is it will be another credit in addition to the other[s] ... that we utilize," said MTA chief operating officer Gary Dellaverson. It's not clear when bonds will first be sold on the new credit and he said there was "no anticipation of utilizing it as a credit" in calendar 2009.

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