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Rail News: Passenger Rail

LA MTA to sell $270 million in bonds


Los Angeles Metropolitan Transportation Authority’s board late last month approved the sale of $270 million in Proposition A sales tax bonds in an effort to retire $55 million in short-term notes MTA sold last summer.

And, to take advantage of lower interest rates, MTA also plans to refinance $200 million in bonds, providing an estimated savings of $2.4 million annually, and aggregate savings of $30 million in current dollars.

The agency would again use an electronic bidding process and electronically disseminate the official statement (prospectus for the bonds) via the Internet.

Contact Progressive Railroading editorial staff.

More News from 3/1/2001