Toll revenue bonds

Ongoing litigation and a state investigative audit could impact bonds for a $5 billion expansion even if the debt is validated by the Oklahoma Supreme Court.

OTA has come under increased scrutiny as it embarks on a $5 billion, bond-financed project that has been challenged in court.

Thirty brokerage firms overcharged for the Santa Rosa bridge bonds after relying on data vendors who provided incorrect factors to determine the price.

The ruling striking down Rhode Island's tolling program constrains states' efforts to solve complex infrastructure problems, the state says.

A controversial $5 billion bond-financed extension project spurred several bills that would alter the Oklahoma Turnpike Authority's debt and other practices.

An initial toll corridor would require $8.5 billion in upgrades, which would be financed by a new bond credit under a plan under consideration by Michigan lawmakers.

By an almost four-to-one margin, voters approved a charter amendment requiring voter approval to transfer ownership of the county's airport, seaport or tollway.

While the turnpike authority is mulling an appeal of an Open Meeting Act violation judgment, lawyers for property owners are preparing to sue over money paid to contractors.

The double-A rated toll agency has two new money toll revenue bond deals on tap for 2023, totaling $900 million.

The state's benchmark debt ratio for debt service to revenue is at 3.78% — well below a 6% target and 7% limit.

The Oklahoma Supreme Court will determine if bonds to initially fund a turnpike extension project are valid under state law.

Entering into long-term leases for toll lanes in urban areas would free up transportation dollars for rural areas, said Gov. Bill Lee.

The ruling marks the first major defeat for OTA in lawsuits seeking to derail its plan for a $5 billion, bond-financed extension project.

Incoming Gov. Wes Moore's political support for Hogan's signature project is uncertain.

Property owners in the path of a $5 billion highway extension and the Oklahoma Turnpike Authority are fighting over whether state statutes allow for the issuance of bonds for the project.

Fitch Ratings revised its outlook to stable from negative on BATA's AA-minus subordinate debt, retaining its stable outlook on AA-rated senior debt.

Proceeds are destined for improvement projects across the 290 miles of roadway that make up the New Jersey Turnpike and Garden State Parkway. 

The credit outlook on individual credits in Florida is mixed as the first reports of damage from the hurricane start filtering in.

Opponents of Oklahoma Turnpike extensions are calling for limits on the agency's ability to issue bonds and raise tolls.

The ruling "sends a strong signal to other states that trucking is not to be targeted as a piggy bank," said the president of the Rhode Island trucking association.