Transportation industry

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.

WASHINGTON — As both the House and Senate began debating highway reauthorization bills on Wednesday, the associated revenue measures came under attack.

The Port Authority of New York and New Jersey will earmark about half a billion dollars to renovate the 80-year-old George Washington Bridge, using money from toll and fare increases the bi-state agency recently implemented.

The Federal Aviation Administration reauthorization bill that President Obama signed into law Tuesday did not give airports new flexibility to raise fees used to back bonds, but an analysis by Moody's Investors Service said the law will still strengthen airport credits.

BRADENTON, Fla. — Metropolitan Atlanta Rapid Transit Authority officials said Tuesday that the American Energy and Infrastructure Jobs Act creates funding uncertainties because it would eliminate federal fuel taxes now dedicated for transit agencies.

Missouri Gov. Jay Nixon last week said any plan to implement tolls on Interstate 70 to fund its rebuilding should go before voters.

CHICAGO — Chicago Mayor Rahm Emanuel's finance team will introduce to the City Council this week an ordinance seeking approval to refund up to $1.75 billion of O'Hare International Airport general airport revenue bonds and passenger facility charge bonds for savings.

Stung by a scathing auditor's report that called the Port Authority of New York and New Jersey dysfunctional, its board of commissioners responded by saying it would not be business as usual at the bi-state agency.

The restructuring of three series of variable-rate demand bonds totaling $500 million by New York’s Triborough Bridge and Tunnel Authority is a credit-positive because it eliminates the risk of failed remarketings related to the credit of failed Dexia Credit Local, Moody’s Investors Service said in a report.

Michigan Gov. Rick Snyder unveiled a $48.2 billion fiscal 2013 budget that he said reflects the state's improving fiscal position, boosting spending for education and roads and making a deposit into the state's anemic rainy-day fund.

Ontario, Calif., officials now say that the $50 million payment they offered to Los Angeles for LA/Ontario International Airport was only part of a $250 million package the city offered to transfer title and operations of its airport, according to published reports.