Transportation industry

The Puerto Rico Public-Private Partnerships Authority announced its short list of four consortiums Wednesday that may submit proposals in a potential long-term lease agreement involving the island’s busiest toll road.

SAN DIEGO — The future of toll roads in California lies largely in managed lane projects, according to participants at a conference here this week.

DALLAS — Utah officials are facing questions about their role in a $13 million settlement with a losing bidder on the expansion of the Interstate 15 freeway in Salt Lake County, which will be funded with a record $1.25 billion bond issue next week.

DALLAS — Dallas Area Rapid Transit will issue $825 million of bonds supported by sales tax and farebox revenue next week under a resolution adopted Tuesday by the DART finance committee.

CHICAGO — The Regional Transportation Authority of Illinois board on Wednesday tapped its chief financial officer, Joe Costello, to serve as interim executive director beginning next month until a replacement for retiring director Stephen Schlickman is found.

DALLAS — Michael Cheroutes, a Denver attorney and expert in public finance, will guide Colorado’s search for new highway funding mechanisms as the first director of its High Performance Transportation Enterprise agency.

SAN FRANCISCO — The San Diego County Regional Airport Authority will sell $417 million of subordinate-lien bonds next week to fund part of a $1.4 billion overhaul at San Diego International Airport.

Virginia last Friday scuttled a potential public-private partnership for the Port of Virginia, ending the chance for a private company to operate the port.

Moody’s Investors Service on Friday placed a negative outlook on the Metropolitan Atlanta Rapid Transit Authority’s long-term rated debt.

Atlanta Mayor Kasim Reed on Monday appointed Louis Miller as the new general manager at Hartsfield-Jackson Atlanta International Airport.

DALLAS — Harris County, Tex., is bringing $140 million of toll road refunding bonds to a market that appears ready to reward issuers bearing strong credit ratings.

Michigan could issue $40 million of one-year debt to secure up to half the necessary funds to avoid losing $475 million in federal highway funds next year. The proposed transportation budget includes $84 million needed to avoid losing the federal money.

A public policy group funded by local businesses wants to overhaul Illinois’ transportation policies and practices to fuel job creation and economis growth.

WASHINGTON — Three firms have submitted conceptual proposals to the Virginia Department of Transportation for a public-private partnership that would develop a new tolled highway in the southern part of the state.

DALLAS — Utah, one of the most fiscally fit states in the mountain West, expects to price the largest issue in its history next week — a $1.25 billion deal that will combine taxable Build America Bonds with tax-exempt debt.

New York’s Metropolitan Transportation Authority will offer up to $900 million of tax-exempt bond anticipation notes issued in the form of commercial paper under a new program.

WASHINGTON — Five airports will receive a total of $9 million in unexpected grants from the American Recovery and Reinvestment Act because of lower-than-expected bids on other airports’ stimulus projects.

New York plans to market new-money, tax-exempt personal income tax bonds next week for the first time since March.

DALLAS — Houston’s transportation authority, Metro, faces delays and growing costs on a $1.5 billion light-rail expansion after its purchase of 103 rail cars from a Spanish manufacturer was found to violate federal law.

Moody’s Investors Service downgraded $80 million of Alaska Industrial Development and Export Authority rental car facility revenue bonds to Baa1 from A3 with a negative outlook, amid falling rentals at Ted Stevens Anchorage International Airport.