Transportation industry

The House today will take up a $410 billion fiscal 2009 omnibus spending package that includes $40.7 billion for transportation infrastructure and $41.5 billion for the Department of Housing and Urban Development. The time for passage is tight: on March 6 a continuing resolution that has kept federal agencies in operation since the fiscal year began on Oct. 1 will expire.

CHICAGO - Indiana lawmakers are considering for the first time dipping into a fund created with proceeds from the lease of the Indiana Toll Road to finance $500 million in local road and highway projects.

Massachusetts motorists will begin paying higher cash tolls in late March, but that increase could be temporary if lawmakers pass legislation to increase the state's gas tax to 42.5 cents per gallon.

ARLINGTON, Va. - Transportation Secretary Ray LaHood told state highway officials meeting here yesterday that public-private partnerships should be among the options for funding transportation projects, and that he and Obama administration officials have ruled out an increased gasoline tax to shore up the highway trust fund in the near term.

The Illinois Regional Transportation Authority last week approved a resolution urging state lawmakers to adopt a long-awaited capital program.

WASHINGTON - Pennsylvania Gov. Edward G. Rendell and public finance expert Felix Rohatyn are calling for the increased use of tax-exempt bonds to help finance infrastructure projects in the near term.

The New York Metropolitan Transportation Authority financial staff yesterday defended their use of mandatory tender bonds as a way to get access to short-term rates at a time when the issuer cannot access the variable-rate market.

ARLINGTON, Va. - Rep. James L. Oberstar, chairman of the House Transportation and Infrastructure Committee, said yesterday that he hopes to launch a program to create 30 "mega-projects" to ease congestion in urban areas that will give issuers or borrowers "special ability" to issue tax-credit bonds, tax-exempt bonds, and Garvees.

Work on state highways financed by the recently enacted federal stimulus package will begin soon, said Gary Ridley, director of the Oklahoma Department of Transportation.

DALLAS - The Texas Turnpike Authority is preparing to refund $150 million of 2002 variable-rate bonds insured by formerly triple-A rated Ambac Assurance Corp. with uninsured bonds carrying triple-B-plus ratings.

A task force appointed by Gov. Kathleen Sebelius in 2008 to develop a new transportation funding strategy for Kansas has recommended loosening the rules for issuing highway bonds.

CHICAGO - A federal Second Circuit Appellate Court panel has upheld a lower court decision allowing a majority of investors who held $414 million of Kenton County, Ky., Airport Board bonds issued for Delta Air Lines Inc. to enter into a settlement as part of Delta's 2005 bankruptcy over the objections of a small group of bondholders.

Massachusetts Gov. Deval Patrick last week proposed increasing the state's gas tax by 19 cents per gallon and reorganizing its transportation bureaucracy.

BRADENTON, Fla. - Florida Gov. Charlie Crist on Friday proposed a $66.5 billion budget for fiscal 2010 that includes $2.5 billion of debt.

DALLAS - The North Texas Tollway Authority said yesterday that it had restated its 2008 financial statement to correct a $105.5 million accounting error.

States and localities that adhere to prevailing wage standards and that have projects that can be built with American materials could be better positioned to receive stimulus funding for infrastructure projects, although it may take several months for stimulus funds to trickle down to local levels, sources said this week.

DALLAS - The Louisiana State Bond Commission delayed a decision yesterday on a planned May sale of $685 million of gasoline and fuel tax bonds after transportation department officials asked for more time to negotiate a financing plan for the bonds.

Louisiana highway officials told a state legislative subcommittee last week that the bond-financed John J. Audubon Bridge over the Mississippi River should open in November.

The Orlando-Orange County Expressway Authority said Tuesday that dwindling toll revenues will require an increase in tolls to protect the agency’s bond rating, according to a local report by WFTV.

DALLAS - A powerful Texas lawmaker who steered milestone transportation legislation through the 2007 session has introduced a bill that would allow counties to raise fuel taxes and fees to bond for rail and road construction.