Transportation industry

The Massachusetts Turnpike Authority today may opt to postpone toll increases that are set to begin Friday and instead use reserve funds to help meet operating costs for the remainder of fiscal 2009, which ends June 30.

The Hawaii Superferry ceased services this week after an adverse reading from the state Supreme Court.

CHICAGO — A controversial plan to build a new bridge spanning the busy trade route between Detroit and Canada advanced this week when the Michigan Strategic Fund approved a resolution allowing the issuance of nearly $800 million of private-activity bonds to finance the project.

The Massachusetts House yesterday passed a bill to extend the state’s general obligation pledge to five Massachusetts Turnpike Authority swaps and removed an amendment that would have banned independent state authorities from entering into swap agreements.

DALLAS — The Louisiana State Bond Commission yesterday approved the sale of up to $685 million of gasoline tax bonds as the state tries to negotiate lower swap-termination fees before the bonds go to market.

The House yesterday approved a six-month extension of Federal Aviation Administration funding under suspension of the rules, which would keep the airport construction grants program and other programs funded through Sept. 30.

Transportation advocates told budget writers in the House yesterday that private capital is available and should be harnessed.

The Chicago Transit Authority board late last week approved the appointments of Richard Rodriguez as its new president and Karen Walker as its new treasurer and chief financial officer.

A rescue plan for the cash-strapped Metropolitan Transportation Authority appeared to be headed for derailment yesterday after New York Senate leaders proposed measures intended to address the agency's $1.2 billion operating deficit but not its long-term capital needs. Gov. David Paterson said the Senate's plan was unacceptable.

New York Gov. David Paterson said yesterday that the Metropolitan Transportation Authority's capital plan would be in peril if the Legislature does not pass a rescue for the cash-strapped agency by March 25.

Phoenix Sky Harbor International Airport hopes to use $200 million in federal stimulus funds for its automated train project so it can reduce the amount of debt it will issue for the $1.1 billion undertaking.

The Massachusetts Bay Transportation Authority last week unanimously approved a $1.62 billion operating budget for fiscal 2010, a plan that depends on $160 million from the state to help close a deficit of the same amount.

The Metropolitan Transportation Authority at a special board meeting Friday urged the New York Legislature to pass a plan that would give it new revenue streams to finance its capital program and provide additional operating funds.

SAN FRANCISCO — In what participants say is a groundbreaking deal, the Port of Oakland has agreed to a 50-year concession for five of its container-ship berths, with an option for two more.

An attorney’s role in a municipal bond transaction gone wrong has sparked opposition to his potential appointment as a U.S. attorney for eastern Washington, the Associated Press reported.

WASHINGTON — At a time when the federal government is putting a tourniquet on one of the hottest transportation financing instruments available to municipal issuers and private investors in the current market, the Department of Transportation’s chief may decide to release $200 million of additional funding to help meet the program’s demands.

President Obama yesterday signed into law a $410 billion omnibus spending measure, which will keep federal programs funded through Sept. 30.

The U.S. Department of Transportation this week signed off on an agreement to provide its share of full funding - $900 million - for the $5.2 billion Dulles Metrorail extension project, which will be financed with $2 billion of bonds beginning this spring.

Rhode Island plans to sell $350 million of tax anticipation notes and $50 million of bonds through the Rhode Island Turnpike and Bridge Authority, under Gov. Donald Carcieri's fiscal 2010 budget proposal.

DALLAS - The Texas Transportation Commission voted last week to use $1.2 billion of federal stimulus funds to move forward with numerous projects across the state, including some controversial toll roads.