WASHINGTON — The trustee for millions of dollars of toll revenue bonds issued in 1998 to finance South Carolina’s first publicly owned and privately built toll road, the Southern Connector Project, is warning investors that the bonds will probably default on Jan. 1, 2010, because of insufficient revenue.

U.S. Bank NA issued the warning in a material event notice recently filed with the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access system that included a one-page form seeking contact information from bondholders.

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