MBTA LAYS CLAIM TO FIRST TAX-EXEMPT SUSTAINABILITY BONDS
The MBTA is preparing to issue hundreds of millions of dollars in debt to finance its capital plans and T officials said they expect to be the first entity in the country to issue tax-exempt sustainability bonds.
The Department of Transportation Board of Directors on Monday approved the issuance of up to $290 million in new money bonds tied to the T's sales tax receipts and the issuance of up to $315 million in bond anticipation notes (BANs). The T's Fiscal and Management Control Board had recommended the transactions.
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