Transportation industry

Sen. Ron Wyden is pushing for the highway and transit reauthorization bill to authorize a certain amount of TRIPs — tax-credit bonds that could be used for transportation projects.

CHICAGO — The St. Paul Port Authority is set to issue a tender invitation in April to holders of the remaining $51.7 million of defaulted industrial revenue bonds as agreed to under a class action settlement aimed at resolving five-year-old litigation over the troubled 876 Bond Fund.

BRADENTON, Fla. — Alabama Gov. Robert Bentley is proposing to sell as much as $500 million of grant anticipation revenue vehicle bonds to finance upgrades to road and bridges in projects that his office would select after consulting with local leaders around the state.

After receiving rating upgrades from Standard & Poor's, the Maine Turnpike Authority is set for its negotiated sale on Monday of $68.8 million of Series 2012A turnpike revenue bonds and $70 million of Series 2012B revenue refunding bonds.

Detractors say the Port Authority of New York and New Jersey is too big and secretive, overcharges commuters, carries way too much debt, and shouldn't run point for the World Trade Center redevelopment.

Some issuers of transit bonds are concerned that the transportation bill pending in the House might hurt their credit ratings.

BRADENTON, Fla. — The Orlando-Orange County Expressway Authority approved an agreement with the state Wednesday to move forward with one of Florida's most expensive toll roads: the nearly $2 billion Wekiva Parkway.

The Virginia House of Representatives has stripped language creating a statewide tolling authority from legislation proposed by Gov. Bob McDonnell, rejecting a model of road finance that has fallen out of favor in recent years but remains viable for other states, according to transportation experts.

The North Texas Tollway Authority is seeking two financial advisors after opening up its bidding process under new board policies.

BRADENTON, Fla. — The Kentucky Turnpike Authority plans to price $256 million of new-money revenue bonds next week.

Amid uncertainty over the cost of building a new Tappan Zee Bridge, New York State officials are floating creative ideas about what to do with the current span after it is replaced.

Louisiana Gov. Bobby Jindal will ask the Legislature to authorize $325 million of bonds to resurface and maintain almost 1,000 miles of state rural roads not eligible for federal matching grants.

Fitch Ratings recently upgraded the debt of Illinois’ Regional Transportation Authority to AA as part of its review of tax-supported debt enterprises with an increased focus on operating risk and other factors.

The $5.25 billion expansion of the Panama Canal scheduled for completion in 2014 has sparked billions of dollars worth of highway, rail and port projects in Texas as the state races to complete construction in time for the expected surge in trade traffic.

LOS ANGELES -The motto of the Las Vegas Monorail must be, "If at first you don't succeed, try, try, try - and try again," after submitting its fourth amended plan to exit bankruptcy.

CHICAGO — Strapped for traditional funding to renovate one of its aging light-rail lines, the Chicago Transit Authority has hired Goldman, Sachs & Co. and two other firms as advisors to explore alternative financing options, including a public-private partnership.

The two-year, $109 billion highway bill is in limbo as the Senate heads into recess after rejecting a motion to combine the transportation policy bill with its revenue portions following a move by Majority Leader Harry Reid, D-Nev., to block further amendments from being proposed for the bill.

BRADENTON, Fla. — The Florida Senate Budget Committee Wednesday unanimously approved a $70.7 billion budget for fiscal 2013 that sets the stage for controversy by transferring toll revenue from local agencies to the Florida Turnpike Enterprise, and placing restrictions on bond issuance for the foreseeable future.

Two of the largest public transit projects planned as part of Los Angeles’ effort to create a comprehensive rail system traversing Los Angeles County got the nod in President Obama’s budget.

A decision by the Los Angeles World Airports board of commissioners would appear to soften their stance on returning LA/Ontario International Airport to local control, though LAWA has posted a new website saying otherwise.