The New York State Thruway Authority last week passed a $1.2 billion 2010 operating budget with no plans to issue general revenue bonds in 2010, the third year in row it will not sell long-term debt on its own credit.

The Thruway sold $700 million of bond anticipation notes in July to partially fund its capital program. The Bans will be fixed out when the authority markets $1.12 billion of bonds in 2011. The budget also projects the sale of $471 million of bonds in 2012 and $431 million in 2013.

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.