Transportation industry

WASHINGTON — Executives of two rail organizations that rely on municipal bonds to finance some projects told international advisory firm KPMG that getting stakeholders and policymakers to buy into and embrace a cultural shift will be key to successfully financing large fast-rail networks.

California’s Legislative Counsel says the Metropolitan Transportation Commission’s $93 million purchase of a building in San Francisco, using bridge toll money, violates state law.

LOS ANGELES — A bankruptcy judge has approved the Las Vegas Monorail Co.'s reorganization plan, allowing it to exit Chapter 11 bankruptcy while nearly wiping out the investment made by bondholders.

The New York State Thruway Authority plans to finance the construction of the new Tappan Zee Bridge mostly through toll-backed bonding, executive director Thomas Madison said.

DALLAS — The Kansas House adopted a $14.4 billion budget for fiscal 2013 late Tuesday that takes money from Department of Transportation revenues to raise public education funding by $50 million.

Louisiana saved more than $100 million in debt service costs with last week’s $803 million refunding of gasoline and fuels tax revenue bonds, said state Treasurer John Kennedy.

A coalition of public finance groups is lobbying hard for House and Senate conferees working on a long-term highway bill to include a provision that would temporarily increase the limit for bank-qualified bonds.

DALLAS — El Paso County, Texas, will dedicate $27 million of proceeds from $110 million of certificates of obligation to complete a bridge project across the Rio Grande into Mexico.

DALLAS — Two major airlines, Southwest Airlines and United Airlines, are trying to sway public opinion in a showdown between two Houston airports that resembles a recent fight in Dallas.

Illinois Transportation Secretary Ann L. Schneider last week unveiled a $9.2 billion multi-year program that combines planning and programming for highways, airports, rail and mass transit from fiscal 2013 to fiscal 2018.

Massachusetts is scheduled to sell $419.3 million of commonwealth transportation fund revenue bonds by competitive bid under its accelerated bridge program.

CHICAGO — Missouri lawmakers have shelved legislation that would have permitted the implementation of tolls on Interstate 70 to fund a $2 billion to $4 billion rebuilding and expansion of the aging highway through a public-private partnership.

The Port Authority of New York and New Jersey last week launched a nationwide search for a chief financial officer to replace Michael Fabiano, who has announced he will retire at the end of this year.

BRADENTON, Fla. — Kentucky is seeking proposals from qualified teams to build its half of the Louisville-Southern Indiana Ohio River Bridges Project.

Georgia-based American Maglev Technology Inc. has proposed a 15-mile, $315 million elevated magnetic levitation train project to connect Orlando International Airport with several locations in central Florida, according to the Orlando Sentinel.

If a judge approves a fifth amended reorganization plan, the Las Vegas Monorail Co. could exit bankruptcy soon.

A very public feud over the highway funding reauthorization is set to move to a more private venue, as 47 members of a conference committee prepare to hammer out a compromise on divisive issues in the House and Senate bills.

Washington will sell its first ever Garvee bonds next month as it works to raise more money to pay for a replacement floating bridge to help ease traffic in the Seattle region.

DALLAS — Colorado's Regional Transportation District will not seek voter approval of a sales tax increase in November that would allow completion of the FasTracks rail and bus system on its current schedule.

A battle over competing international bridge plans in Michigan that has roiled the Legislature for years could find resolution with a public vote later this year.