DALLAS - Using state loan guarantees as a new form of debt insurance, the North Texas Tollway Authority yesterday agreed to build another $1.3 billion turnpike, despite misgivings by some board members about how the financing might affect future projects.

The new project, State Highway 161, is an 11-mile north-south highway on the western fringe of Dallas that will funnel traffic through the suburb of Grand Prairie and toward a new Dallas Cowboys stadium in adjacent Arlington.

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.