Economy

The Delaware River Port ­Authority plans to issue roughly $715 million of new-money and refunding debt in late February to finance capital projects and replace fixed-rate debt with variable-rate bonds under terms of a swap option that will be exercised Jan. 1.

Providence would get a $76 million streetcar system to meet the city’s growing transit needs under recommendations in a report that was released by the Rhode Island Public Transit Authority last week.

BRADENTON, Fla. — Florida Gov. Charlie Crist is urging U.S. Transportation Secretary Ray LaHood to approve Florida’s application for high-speed rail funding now that lawmakers have passed a statewide rail policy and funding bill.

SAN FRANCISCO — A special ­election Tuesday may hasten the end of Valley Health System’s two-year-old Chapter 9 bankruptcy case and lead to the ­redemption of the Southern California public hospital district’s outstanding tax-exempt bonds.

WASHINGTON — House Democrats plan to introduce and vote next week on a jobs bill, Speaker Nancy Pelosi said yesterday as the chamber voted 221 to 202 to approve a nearly half-trillion dollar appropriations bill with funding for high-speed rail.

WASHINGTON — Congress is expected as early as this week to take up a $446.8 billion appropriations act for fiscal 2010 that would provide more high-speed rail funds than the Obama administration had requested, along with highway and other transportation infrastructure funds and bond-related community development block grants.

BRADENTON, Fla. — The Georgia Department of Transportation plans to offer its first public-private partnership concession earlier than planned next year with two metro Atlanta interstate highway projects estimated to cost more than $2 billion.

CHICAGO — The Illinois Finance Authority board this week advanced $400 million of health care financings, including Memorial Health System’s $150 million issue selling today, and hired a new executive director — the agency’s general counsel and deputy director, Christopher Meister.

BRADENTON, Fla. — The Florida Legislature late Tuesday finished work on a bill enacting a statewide comprehensive passenger rail policy and providing funds for existing and new rail projects.

New York City has nearly selected all the projects for its $121 million allocation of Recovery Zone facility bonds, pending board approval, the conduit issuer said yesterday.

The Federal Housing Administration, insurer of nearly $20 million of North Philadelphia Health System Series 1997A bonds, will not acquire the borrower’s property and outstanding debt, as Bank of New York Mellon, trustee of the 1997 bonds, agreed to withdraw its notice of mortgage assignment to the U.S. Department of Housing and Urban Development.

DALLAS — The North Tarrant Express, a $2 billion toll road project that represents one of the largest public-private partnerships in Texas, begins its financial history clinging to investment-grade ­ratings.

President Obama’s announcement yesterday of his administration’s job-creation plan added momentum to the push by municipal market participants for any forthcoming jobs bill to include infrastructure spending and aid to states.

DALLAS — Austin may be moving toward a $600 million bond election as the City Council considers ways to build a light-rail system.

Fitch Ratings this week downgraded its rating to BBB-minus from BBB-plus on the Summit County Port Authority bond fund’s outstanding $40.2 million of revenue bonds. The debt remains on negative negative at the lower rating.

Illinois Gov. Pat Quinn last week named Chicago-based public finance banker Maria Saldana to a four-year term on the Illinois State Toll Highway Authority board.

BRADENTON, Fla. — The Florida House yesterday passed a bill adopting a statewide passenger rail policy and creating a commission to oversee existing and new rail projects.

CHICAGO — With an upgrade from Moody’s Investors Service in hand, Oak Brook, Ill.-based Advocate Health Care Network enters the market beginning today with $240 million of fixed-rate bonds in a deal that cements the Chicago area’s largest health care provider’s acquisition of ­BroMenn Health System.

A $50 million cut in highway maintenance work will mean higher costs down the road for motorists, Kansas Transportation Secretary Deb Miller said last week.

House and Senate leaders may soon include a six-month extension of the current transportation law in an omnibus appropriations bill, as the Dec. 18 expiration date of the latest extension approaches, sources said Friday.