Transportation industry

MIAMI — Legislation authorizing a national infrastructure bank could see renewed momentum this month as the Obama administration begins to prepare its fiscal 2012 budget.

MIAMI — Despite some setbacks in privatizing major U.S. airports, including the economic downturn and contraction among airlines, prospects remain good for future public-private partnerships, industry experts and airline officials said here Tuesday.

MIAMI — Two senators on the Environment and Public Works Committee, including the panel’s outgoing ranking Republican, are calling for a gradual increase of the gasoline tax by 25 cents over three years.

Retiring Wisconsin Gov. Jim Doyle Monday said the fate of the $810 million, federally funded high-speed rail line between Madison and Milwaukee is now in the hands of Governor-elect Scott Walker.

Michigan Senate Majority Leader Mike Bishop last week said lame-duck lawmakers will not act on a controversial plan to build a $1 billion, publicly owned bridge over the Detroit River.

Public bus service in Nassau County, N.Y., could be privatized after talks on Monday between the Metropolitan Transportation Authority and the county executive produced no resolution in a funding dispute.

The Bond Buyer’s editors Tuesday announced the finalists for the newspaper’s ninth annual Deal of the Year Awards.

New Jersey Transit and Amtrak are in preliminary discussions to improve passenger rail service between New Jersey and Manhattan following New Jersey Gov. Chris Christie’s termination of a $9.4 billion commuter-rail tunnel that was the nation’s largest public transportation project.

MIAMI — With the potential expiration of popular Build America Bonds at the end of the year, issuers looking to finance transportation projects should not rule out using variable-rate debt in their portfolios or wrapping bonds with insurance, experts said here Monday.

MIAMI — The environment of ­austerity in the federal and state capitols will have a jarring effect on funding for transportation projects, but could present an opportunity for tolling, increased public-private partnerships, or an infrastructure bank, market participants said Monday at The Bond Buyer’s 11th Annual Transportation Finance Public-Private Partnership conference.

Atlanta may bring its next airport bond issue to market sooner than anticipated because of widespread investor interest in last week's successful sale of $588 million for Hartsfield-Jackson Atlanta International Airport, officials said.

Fitch Ratings on Wednesday downgraded to junk $792 million of bonds issued in 1997 by the Port Authority of New York and New Jersey to build a terminal at John F. Kennedy International Airport.

Lawmakers will go back to the drawing board for a multi-year transportation bill when Republicans take over leadership of the House in January, but market participants think such a bill may have a chance of squeezing through a divided Congress next year.

DALLAS — Southwest Airlines, which after its launch in 1971 built its entire business plan around Love Field, will issue $310 million of revenue bonds to expand operations at the historic Dallas airport.

ALAMEDA, Calif. — Two years after voters north of San Francisco approved a sales tax to finance a new commuter rail line, the start of construction is in sight and the Sonoma Marin Area Rail Transit District prepares for its first bond issue.

The transportation market seems to be stabilizing, Fitch Ratings analysts said at a conference in New York City last week, before the agency publishes its 2011 outlooks for the sector.

BRADENTON, Fla. — Atlanta this week will bring to market nearly $600 million of bonds for Hartsfield-Jackson Atlanta International Airport, the facility’s first long-term fixed-rate financing in six years.

New Hampshire Thursday will enter the market with its ­first-ever Garvee sale, a $77.1 million deal that includes $60 ­million of taxable recovery zone economic development bonds.

CHICAGO — The Ohio Turnpike Commission will refund $130.3 million of bonds Monday to achieve savings of nearly $10 million over the life of the debt.

The Internal Revenue Service is auditing the New Jersey Turnpike Authority’s $1.37 billion of Series 2009F Build America Bonds in a routine examination.