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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.

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More News from 3/1/2001