(Reuters circulated the following story on January 29.)
NEW YORK — The New York Metropolitan Transportation Authority’s board on Thursday approved advancing by 18 months the purchase of 120 rail cars from Canada’s Bombardier Inc. for its Metro-North commuter railroad.
The purchase will be financed mainly with a $208 million bond sale.
The MTA Chairman Peter Kaplan said, however, the cost of this speeded-up rail car purchase should be deducted from Metro-North’s next capital plan. New York City members of the MTA board had voted against the rail car purchase because it takes money away from the city’s busses and subway lines.
The board also approved $2.8 billion of new money bond sales and a $220 million refunding. All the bonds will be issued through negotiated sales.
The list of approved bond sales include:
–$750 million of MTA transportation revenue bonds or dedicated tax bonds in February.
–$500 million of MTA transportation revenue bonds in June.
–$250 million of Triborough Bridge and Tunnel Authority general purpose revenue bonds in June.
–$220 million of MTA transportation revenue bonds in July.
–$700 million of MTA transportation revenue bonds in October.
–$600 million of MTA transportation revenue bonds in December.