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.
Already a subscriber? Login to continue reading...
Get the Rest of the Story!
State House News Service subscribers include media outlets, corporations, non-profits and law offices of every size. You may request a free 21-day trial of the News Service for your company by submitting the form below.
Note to political campaigns: We do not accept trial requests from campaigns from June 24 through Election Day. However, we would be happy to start a pre-paid subscription for your campaign (except for constitutional offices) at a deeply-discounted rate of $21/week, paid through the election. Simply email Virginia Cummings to set up this subscription; she'll send you further instructions.
If you are already a subscriber and need access to SHNS, please send an email to email@example.com or call 617-722-2439.