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10/1/2019



Rail News: Security

Metro Transit-St. Louis to benefit from bond refinancing


The Bi-State Development board refinanced bonds to generate $49.1 million in debt savings.
Photo – Metro Transit-St. Louis

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The Bi-State Development (BSD) board last week completed a bond refinancing to generate $49.1 million in debt savings and announced it will use nearly $20 million of those savings to fund Metro Transit-St. Louis infrastructure and security improvements. 

Although specific projects to be funded are still being determined, projects under consideration include security camera upgrades and reconfiguration of MetroLink stations to limit points of customer access in order to improve passenger monitoring and fare violation enforcement, BSD officials said in a press release. 

The enhancements are among the recommendations proposed by WSP USA Inc., a consulting firm hired by East-West Gateway Council of Governments, which is working with Metro Transit-St. Louis and its police partners to identify steps to improve rider safety.

The BSD board, the city of St. Louis and St. Louis County approved the bond refinancing, which enabled BSD to replace $196.8 million of bonds carrying interest rates of 4.5 percent to 5 percent with bonds below 3 percent.



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