Transportation industry

The Connector 2000 Association Inc., a beleaguered Greenville, S.C., toll road operator that a year ago defaulted on $329 million of bonds, needs bondholders to approve a tentative restructuring plan to exit bankruptcy.

WASHINGTON — Officials in the Obama administration on Tuesday announced plans to spend $53 billion over six years to finance the construction of a national high-speed rail and intercity passenger rail network.

ALAMEDA, Calif. — The Seattle City Council Monday ratified agreements designed to smooth the path toward construction of a tunnel to replace the elevated Alaskan Way viaduct along the city’s waterfront.

New Gov. John Kasich said again last week that he is considering leasing the Ohio Turnpike, a move that could bring in $2.4 billion. Of that, the state would have to pay off $600 million of outstanding debt, which would need to be defeased in the event of privatization.

DALLAS — Analysts say that debt ratings for international toll bridges in Texas are bearing up under the stress of continuing drug violence in Mexico and recent traffic declines due to additional crossing points.

Democratic lawmakers and Amtrak Monday announced a $13.5 billion plan to increase rail service between New Jersey and Manhattan by building two new train tunnels underneath the Hudson River.

Legislation that would reduce New Jersey Turnpike Authority tolls prompted a conference call Friday between the agency and Moody’s Investors Service.

ALAMEDA, Calif. — Most holders of $451.5 million of first-tier revenue bonds issued for the Las Vegas Monorail are prepared to accept $111 million up front and release Ambac Assurance Corp. from its exposure to the defaulted bonds, the bond trustee said in a disclosure filing.

The Port Authority of New York and New Jersey last week elected former New Jersey Attorney General David Samson as chairman.

Both the main airport and seaport in the Commonwealth of the Northern Mariana Islands remain shaky financial propositions, Fitch Ratings said this week in affirming their speculative-grade ratings.

CHICAGO — Chicago Mayor Richard Daley on Thursday questioned the sincerity of American Airlines and United Airlines' willingness to meet with him in an attempt to resolve differences over the timing and financing of $3.36 billion worth of expansion projects at O'Hare International Airport.

The New Jersey Turnpike Authority could roll back toll increases to reflect $1.25 billion it no longer needs to spend on a canceled mass transit tunnel project and still meet contractual debt-service coverage levels, according to an analysis from the Office of Legislative Services.

The Metropolitan Atlanta Rapid Transit Authority signed a $142.9 million contract last week to begin a major overhaul of its aging train-control and rail-safety systems in a deal that is expected to require some bond financing.

In an effort to drum up a new source of revenue for Florida’s beleaguered transportation trust fund, two lawmakers have filed identical bills authorizing the sale of naming rights and advertising space on state-owned transportation facilities.

CHICAGO — Chicago Mayor Richard Daley will meet with executives at American Airlines and United Airlines Thursday as a legal standoff over $3.36 billion worth of expansion projects at O’Hare International Airport drags on.

DALLAS — As Denver International Airport embarks on the largest expansion project in its 16-year history, it’s benefitting from surging passenger levels and an improving economy that yielded a new traffic record in 2010.

WASHINGTON — The District of Columbia expects to issue $81.7 million of federal highway grant anticipation revenue bonds on Wednesday in a deal that was delayed from December at an additional cost to the district of about $2 million.

BRADENTON, Fla. — The Nashville Metropolitan Transit Authority has hired Parsons Brinckerhoff to do a year-long study of high-capacity transit options to shuttle workers and tourists to and from the city’s busy downtown business and entertainment districts.

Philadelphia International Airport plans a $5.2 billion expansion project that would include about $4.2 billion of borrowing to help finance an increase in capacity. Officials also would like to improve the facility’s on-time record, especially during bad weather.

New Jersey is seeking underwriting services as the state’s Transportation Trust Fund Authority plans to issue $600 million of tax-exempt, new-money bonds by April 15 to help finance roads, bridges, and public transportation.