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7. State offers $2.8B in bonds to help top off depleted Transportation Trust Fund

from NJ Spotlight

From Oct. 25: The price of gasoline will go up in New Jersey early next week, thanks to the unpopular fuel-tax increase that Gov. Chris Christie and lawmakers approved this month to renew the state's broke Transportation Trust Fund. But New Jersey is also looking to investors for a more immediate infusion of cash for transportation projects. The state this week is offering $2.8 billion in bonds that Department of Treasury officials say will provide new revenue for TTF-funded construction work over the next two years as the trust fund is replenished through an 8-year, $16 billion finance plan recently approved by Christie and lawmakers along with the gas-tax hike. more


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