New Jersey Gov.-elect Chris Christie will take office next month, and along with confronting high property taxes, a heavy debt burden, and the issue of encouraging shared services at the local level, the new administration will face a transportation funding spigot set to dry up by mid-2011.

The New Jersey Transportation Trust Fund Authority has new-money bonding capacity this fiscal year and next, but by July 2011, the start of fiscal 2012, its entire $895 million annual appropriation will be needed to cover principal and interest payments on the TTFA's nearly $11 billion of existing debt.

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