Tag Archives: toll road failures
With toll road failures widespread, TxDOT issues state highway fund-backed loan guarantees
State and federal highway dollars are pinched and toll road traffic is taking a hit from a sustained economic downturn and high gas prices, while states are looking for ways to get projects built with limited resources. Bond documents for the $2.6 billion Grand Parkway (State Highway 99) tollway reveal the bonds issued by the Texas Department of Transportation (TxDOT) will be backed by the state highway fund for all but $200 million of the debt, if toll revenues are insufficient.
Posted in Transportation
Tagged Grand Parkway, Moody's, Spain-based Cintra, Texas, toll road failures, toll roads, TxDOT
