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Later this month, the Alaska Railroad Corp. (ARRC) will issue up to $165 million in tax-exempt bonds to finance several projects.
The Alaska legislature has authorized ARRC to issue the bonds, which are backed by the Federal Transit Administration.
The railroad plans to issue about $76 million in bonds this year and the remainder in 2009 and 2012. ARRC will use proceeds to install continuous-welded rail and concrete ties on curves, continue a wood-tie replacement program, upgrade technology and acquire passenger-rail equipment.
8/7/2006
Rail News: Rail Industry Trends
State OKs Alaska Railroad's bond issue for MOW projects, equipment purchases
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Later this month, the Alaska Railroad Corp. (ARRC) will issue up to $165 million in tax-exempt bonds to finance several projects.
The Alaska legislature has authorized ARRC to issue the bonds, which are backed by the Federal Transit Administration.
The railroad plans to issue about $76 million in bonds this year and the remainder in 2009 and 2012. ARRC will use proceeds to install continuous-welded rail and concrete ties on curves, continue a wood-tie replacement program, upgrade technology and acquire passenger-rail equipment.
