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CTA to issue bonds for capital improvements


The Chicago Transit Authority (CTA) board recently approved the issuance of $250 million in tax-exempt Capital Grant Receipt Revenue Bonds to help fund capital improvements, such as purchasing new rail cars and buses, and eliminating slow zones.

The authority’s five-year capital program includes $6.3 billion worth of unfunded projects that are necessary to reach and maintain a state of good repair, CTA said.

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More News from 3/14/2008