Economy

Private-sector infrastructure executives in the U.S. are concerned that current investment in infrastructure is inadequate to create long-term economic growth, and that government ineffectiveness and poor economic conditions are more of a barrier to projects than the lack of available financing.

DALLAS - The North Texas Tollway Authority yesterday increased the size of its commercial paper refinancing and sold $1.4 billion in bonds, including $825 million of taxable Build America Bonds.

New York's Metropolitan Transportation Authority should create a separate fund for debt service and institute a rolling five-year capital plan, New York City Mayor Michael Bloomberg said at a campaign event yesterday.

BRADENTON, Fla. - The Mississippi Department of Transportation has once again delayed the receipt of proposals for its first public-private partnership toll road project.

Texas Department of Transportation officials said last week the state will spend a record $5.9 billion on road projects in fiscal 2010, followed by another $5 billion in fiscal 2011.

The Oklahoma Department of Transportation will use federal stimulus funds to replace 63 of the 6,773 obsolete bridges in the state. Another 53 structures will be renovated with the funding.

CHICAGO - Wayne County, Mich., officials said they plan to issue up to $500 million in taxable bonds in fiscal 2010 to cover about half of its roughly $888 million unfunded liability for its accrued retiree health-care costs.

The Metropolitan Washington Airports Authority today will launch the sale of as much as $853 million of bonds - including about $360 million of taxable Build America Bonds - to fund construction of a new Metrorail line that will connect riders with the Dulles International Airport.

WASHINGTON - President Obama is expected to soon sign a bill to provide the federal highway trust fund with $7 billion of extra cash, which would keep money flowing to states for transportation projects while lawmakers settle their dispute over an 18-month extension to the current law that expires Sept. 30.

CHICAGO - The University of Chicago Medical Center on Tuesday will sell the first tranche of a $225 million issue to begin a $500 million borrowing that will help fund a $700 million, 10-story, 240-bed hospital pavilion.

DALLAS — Two large deals that include Build America Bonds are coming to market this week in Texas.

The New York State Thruway Authority has failed to fully implement debt issuance recommendations made by the state comptroller's office four years ago, Comptroller Thomas DiNapoli said on Friday.

WASHINGTON — Rep. Peter DeFazio, D-Ore., chairman of the House Transportation Committee’s highways and transit panel, introduced a bill this week that he said would pay for a $450 billion to $500 billion, multi-year transportation bill to replace the current law, which expires Sept. 30.

CHICAGO — Moody’s Investors Service this week revised its outlook to negative on the Cleveland Clinic Health System’s debt as it prepares to enter the market next month with $800 million of fixed-rate bonds.

Oregon Gov. Ted Kulongoski this week signed legislation that raises $300 million a year for spending on public transit, rails, ports, airports, roads and bridges.

The struggling state of the California economy remains evident in a report released this week on new vehicle sales.

In contrast to the recent months of uncertainty swirling around the Metropolitan Transportation Authority's financial health, the New York agency released its preliminary 2010 budget and financial plan with little fanfare at its board meeting yesterday.

WASHINGTON - Maryland will begin selling bonds to retail investors on a negotiated basis tomorrow for three days and will then sell bonds to institutional investors on a competitive basis on Wednesday in a $485 million hybrid transaction.

WASHINGTON - House lawmakers voted 363 to 68 late yesterday to approve a bill that would provide $7 billion to the highway trust fund and keep money flowing to states through Sept. 30, the end of the fiscal year.

CHICAGO - Facing tough national competition, eight Midwestern governors joined together this week to present a united front in their push to land a share of $8 billion in federal funds available for high-speed rail projects from the economic stimulus program.