Transportation industry

BRADENTON, Fla. - The Mississippi Department of Transportation yesterday announced that due to the credit crisis, it has suspended the procurement process for the state's first toll road to be built as a public-private partnership.

Despite the lagging economy, the summer season proved to be busy at Hartsfield-Jackson Atlanta International Airport.

DALLAS - Dallas-Fort Worth International Airport is moving toward a $1.5 billion bond-financed renovation of the four original terminals that debuted 35 years ago.

Florida has dipped into its transportation trust fund for money to keep other programs going - an action other states may be forced to take if revenues continue to decline, market participants said.

DALLAS - The New Orleans Regional Transit Authority has proposed a $212 million streetcar expansion effort that would be financed with $73.5 million of sales tax revenue bonds and $121 million in federal transit funds.

New York Gov. David Paterson's choice to run the Metropolitan Transportation Authority said at a hearing yesterday that he would work with the Legislature to find a solution to the cash-strapped agency's needs but didn't offer proposals of his own. The state Senate will consider the nomination of Jay Walder as chairman and chief operating officer at a full confirmation hearing tomorrow.

New York's Triborough Bridge and Tunnel Authority's is returning to the competitive market on Thursday after a hiatus since 2001. The deal, a $158 million taxable Build America Bond offering, is coming on the heals of outlook changes to negative by two rating agencies last week.

CHICAGO - With an upgrade in hand, the Missouri Highways and Transportation Commission heads into the market next week with $600 million of Garvees and will return next month with $300 million of road bonds that mark the final installment of borrowing under a $2 billion construction program.

The Government Accountability Office has issued a legal decision that says highways maintained by private third parties under public-private partnerships, including tolled highways, are eligible for federal highway grant funding.

CHICAGO — Illinois announced yesterday plans to competitively sell $400 million of new-money general obligation bonds on Sept. 16, the first leg of borrowing to finance shovel-ready road and bridge projects that are part of a $31 billion capital program.

WASHINGTON - An advocacy group in Virginia is suing federal and state transportation officials over the Dulles Toll Road, arguing that drivers are being illegally charged tolls used to back bonds issued for a Dulles Metrorail project.

CHICAGO - Southeast Michigan needs to invest more than double the $68 billion it currently plans to spend over the next 26 years to adequately address all its transportation needs, according to a report released this week by a regional government planning group.

WASHINGTON - At least two toll authorities are competing for funds from a federal grant program set up under the stimulus law after several others helped finance their projects with Build America Bonds, which also were authorized by the stimulus package.

SAN FRANCISCO — A state Superior Court judge this week handed down what appears to be a new roadblock to California’s bond-financed high-speed passenger rail project.

DALLAS — Louisiana’s top highway official told lawmakers on Wednesday that soon there will be no money available for new highway projects unless additional funding sources are provided.

WASHINGTON - At least 11 states have submitted requests for the first portion of $8 billion of federal high-speed rail stimulus funds. California, Florida, Michigan, New York, and Texas alone requested more than $4.5 billion for planning, engineering, and early construction of high-speed rail projects.

The New Jersey Turnpike Authority yesterday approved refunding up to $900 million of outstanding debt to generate savings for the agency.

Gov. Jennifer Granholm announced Monday that Michigan has applied for $830 million in federal stimulus funds as the first step in setting up high-speed rail across the state.

SAN FRANCISCO - Supporters of a planned Alaska toll bridge to be funded through a public-private partnership appear to have won a round this summer in legal maneuvering over the project's future, though major financing hurdles remain to be crossed.

The Metropolitan Transportation Authority's bond ratings may be too high, according to a report released by Bank of America-Merrill Lynch yesterday.