Transportation industry

Fitch Ratings affirmed its top ratings on the Minneapolis-St. Paul Metropolitan Airport Commission and its $261 million of general obligation debt.

The New Jersey Environmental Infrastructure Trust may finance nearly $900 million of clean water and wastewater projects in fiscal 2010, almost double its typical annual program, with the aid of federal and state stimulus funds.

A group of transportation experts yesterday urged Congress to develop a new agenda for transportation that creates and expands bond-related financing programs and sets specific national goals but gives states and localities maximum funding flexibility for projects.

CHICAGO - The Regional Transportation Authority of Illinois in coming weeks will convert $133 million of high interest-rate variable-rate securities to a new, more affordable mode and enter the market to raise $260 million for cash flow as the agency grapples with dwindling sales taxes and state payment delays.

DALLAS - The North Texas Tollway Authority will apply $133 million of federal stimulus funds to its first toll project in Tarrant County, officials said.

House Transportation Committee chairman James L. Oberstar is lighting a fire under lawmakers to approve a multi-year transportation funding authorization bill by Sept. 30, vowing he will not sponsor or approve any short-term extension to the current law.

Unable to recover from an adverse court decision earlier this year, the company that ran the Hawaii Superferry filed for bankruptcy Saturday.

The Massachusetts Bay Transportation Authority, which aims to boost transit fares by 10% to 20% in the fall, yesterday approved moving forward with a public hearing process on the planned price hike.

SAN FRANCISCO — San Francisco International Airport this week converted most of its floating-rate private-activity bonds subject to the alternative minimum tax into tax-exempt debt.

The Metropolitan Atlanta Rapid Transit Authority staff last week recommended fare and parking increases and modest service cuts along with a total budget of $787.6 million for fiscal 2010.

Former Vermont Gov. Howard Dean and former Indianapolis Mayor Stephen Goldsmith yesterday announced the launch of a working group that will push for the creation of a new federal "center of excellence" that municipal and state officials could consult for guidance on public-private partnerships.

Pennsylvania officials are debating whether to resubmit to federal officials an application to implement tolls on Interstate 80 or look to alternative revenue enhancers as the Pennsylvania Turnpike Commission continues its payments to the state.

DALLAS - The state Legislature's failure to approve $2 billion of bonds for the Texas Department of Transportation and uncertainty over the agency's future could force Gov. Rick Perry to call a special session, lawmakers said yesterday.

WASHINGTON - State and local issuers could be awarded as much as $1.5 billion in discretionary grants, loans, and other credit assistance as early as this fall, under the new stimulus law.

New York's Metropolitan Transportation Authority's heavy reliance on debt to finance its capital program will put increased pressure on its operating budget, state Comptroller Thomas DiNapoli said in a report yesterday.

BRADENTON, Fla. - The Florida Department of Transportation yesterday said it had reached agreement on the business terms of a concession contract with the consortium Miami Access Tunnel to design, build, finance, operate, and maintain the $1.2 billion Port of Miami Tunnel project.

New York Gov. David Paterson yesterday created a board to oversee the development and implementation of public-private partnership demonstration projects.

SAN FRANCISCO - Oregon Gov. Ted Kulongoski plans to sign a transportation infrastructure package that will raise $300 million annually to pay debt service on bonds and to fund local spending on roads, bridges, and public transit.

DALLAS - The time line for building a toll-financed roadway along the Trinity River corridor in downtown Dallas got a 20-month setback Monday.

DALLAS - A local option tax for transportation projects in major urban areas appeared doomed Monday as this year's session of the Texas Legislature came to a close.