Governor Deval Patrick and legislative leaders announced that the Commonwealth has saved $190 million in transportation-related costs as a direct result of sweeping transportation reform signed into law one month ago.
Due to five risky financial transactions – so-called “swaptions” – entered into by the Turnpike Authority in 2001, the Authority was at direct risk of having to pay the financial institution UBS $257 million dollars immediately. The passage of transportation reform improved the Authority’s bond rating to the point of negating the need to pay $190 million of that amount.
In addition, UBS extended the July 24th deadline for payment or other resolution of the final swaption – valued at approximately $67 million – to allow for more time for the state to reach a similarly positive result.
South Coast Rail: Project of the Year Candidate posted on Oct 24
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MBTA: Green Line Real-Time Tracking posted on Oct 23
Today, the MBTA will begin providing real-time information on the Green Line for the first time in the line’s 117 year history. Real-time data on the location of Green Line trains will be fed to the dozens of MBTA real-time apps. This will mark the …Continue Reading MBTA: Green Line Real-Time Tracking
RMV: Know Your Teen Driver Safety Facts posted on Oct 23
The Registry of Motor Vehicles during National Teen Driver Safety Week reminds us that motor vehicle crashes are the #1 killer of teens. Parental involvement can help reverse that trend. Know the facts: 1. Parental Involvement Did you know? Parents who set, monitor, and enforce …Continue Reading RMV: Know Your Teen Driver Safety Facts