HIGHWAY BOND FINANCING- A CURRENT ANALYSIS

THE HIGHWAY BORROWING PRACTICES OF THE STATES AND LOCAL GOVERNMENTS ARE REVIEWED DURING THE PERIOD 1950-1960. HIGH- WAY DEBT IS EXAMINED IN TERMS OF ITS MAGNITUDE, ITS RELATION TO OTHER TYPES OF DEBT, AND THE COMPARATIVE COSTS TO THE HIGHWAY USER OF GUARANTEED AND REVENUE BOND FINANCING. THE EFFECTS OF CONSTITUTIONAL LIMITATIONS ON CREATION OF DEBT ARE MEASURED AND EVALUATED. THE DEVELOPMENT AND IMPACT OF THE AUTHORITY DEVICE IN FINANCING HIGHWAYS BY MEANS OF REVENUE BONDS IS THOROUGHLY ANALYZED. INTEREST COSTS AND SCHEDULED MATURITIES OF REVENUE BONDS ARE COMPARED WITH OTHER TYPES OF HIGHWAY BONDS AND THE DIFFERENTIAL IS MEASUR- ED IN TERMS OF FINANCING COSTS OF THE VARIOUS BOND TYPES. SPECIFIC BOND-FINANCING PROGRAMS ARE DISCUSSED. THE RECENT RESURGENCE IN TOLL ROAD FINANCING IS COVERED IN DETAIL, AS IS THE USE OF THE AUTHORITY DEVICE TO FINANCE TOLL-FREE HIGH WAY PROGRAMS. THE STUDY CONCLUDES THAT THE METHOD OF FINANC- ING ACCELERATED HIGHWAY PROGRAMS DEPENDS ON THE DECISION TO PAY-AS-YOU-GO OR TO RESORT TO CREDIT FINANCING.

Media Info

  • Media Type: Print
  • Features: Figures; References; Tables;
  • Pagination: pp 1-62
  • Monograph Title: Highway financing
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00200899
  • Record Type: Publication
  • Files: TRIS, TRB
  • Created Date: Jul 24 1994 12:00AM