Transportation industry

After days of debate, Nebraska lawmakers last Saturday approved a bill that will divert a slice of the state’s sales tax to finance road projects.

Illinois Gov. Pat Quinn and U.S. Sen. Dick Durbin last week announced a $685 million agreement that advances plans for a high-speed rail network between Chicago and St. Louis.

WASHINGTON — A federal bankruptcy judge has approved the restructuring and reorganization of the debt of the Connector 2000 Association, a beleaguered toll road operator in Greenville, S.C.

Travis County may establish a tax increment financing district to build roads and other public infrastructure serving the 3.4-mile Formula One Grand Prix racetrack being built outside Austin.

The Arkansas Senate approved a ­measure last week that would allow the governor to put a 5-cent per gallon ­increase in state gasoline taxes on a statewide ­ballot.

DALLAS — The North Central Texas Council of Governments is considering funding for a proposed $1.4 billion commuter rail line from southwest Fort Worth to the north Dallas suburb of Plano.

BRADENTON, Fla. — Florida lawmakers are moving forward to consolidate three toll-road authorities in a revised plan that now excludes the financially ailing Santa Rosa Bay Bridge Authority, which appears headed for a bond payment default this year.

WASHINGTON — A South Carolina bankruptcy judge held a hearing Friday to consider the restructuring plan for the Connector 2000 Association Inc., the bankrupt South Carolina toll road operator, setting up the issuer’s exit from bankruptcy after years of uncertainty for bondholders.

Gov. Chris Christie proposes allocating $140 million of funds in fiscal 2012 to support $1.18 billion of New Jersey Transportation Trust Fund Authority borrowing.

BRADENTON, Fla. — Delta Air Lines Inc.’s 25% service reduction at Memphis International Airport could be a harbinger of future cutbacks at the Tennessee hub and other airports as carriers respond to sharply increasing fuel prices, according to rating agency analysts.

CHICAGO — Chicago plans to sell $1 billion of O’Hare International Airport third-lien general airport revenue bonds next month.

BRADENTON, Fla. — A Florida Senate transportation committee is entertaining a proposal to merge four expressway and bridge authorities with outstanding debt into Florida’s Turnpike Enterprise.

CHICAGO — Ohio senators Wednesday unanimously passed a $7 billion, two-year transportation budget that allows the state to impose tolls to finance projects and enter into public-private partnerships to build and maintain new infrastructure.

DALLAS — Amid a $500 million remodeling project, Dallas Love Field Airport won a two notch upgrade from Standard & Poor’s Wednesday, rising to A with a stable outlook from BBB-plus.

U.S. Sen. Bill Nelson, D-Fla., said Friday that there is little hope that Florida can come up with a plan to regain $2.4 billion in federal funds for a high-speed rail line between Tampa and Orlando.

DALLAS — In what will likely be the largest deal in Texas so far this year, the North Texas Tollway Authority is preparing to issue $1.3 billion for the western extension of its President George Bush Turnpike.

A 12-member group of politicans and business leaders is asking Gov. John Kasich to reconsider his decision to abandon plans for high-speed rail in Ohio.

SAN RAFAEL, Calif. — The Sonoma Marin Area Rail Transit District in California remains on track to debut in the bond market this spring, but the limits of the sales tax it relies on for funding will limit the scope of the rail transit line it plans to build, its board of directors learned here last week at a workshop.

WASHINGTON — Maryland lawmakers are considering a 10-cent-per-gallon increase to the state’s 23.5-cent gas tax, but the government may not be able to use the potential revenue increase to back bonds for transportation projects because there is limited room under its debt cap.

New York State will sell $830 million of new-money and refunding general obligation bonds via competitive bid on Tuesday to help finance transportation and environmental infrastructure needs and generate debt service savings.