Wall Street won’t insure the new CTRMA toll road debt at an affordable cost because of its high risk.
AUSTIN — The Central Texas Regional Mobility Authority, or CTRMA, is a toll road agency that solicits and bundles money from various sources and uses it to build and operate toll roads in the Austin, Texas, area. The main purpose of this essay is to take a closer look at an under-reported aspect of the CTRMA’s toll road policy, their toll road debt and its potential local risk.
Is the CTRMA road bond debt arrangement likely to work out as a good investment, benefiting both those who hold the bonds as well as Austin area taxpayers? I believe the risk of bond default is unacceptable.
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