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State treasurer: SR 520 toll corridor meets coverage requirements and can support an additional $254 million of bonds
Summary
Deputy Treasurer Jason Richter told commissioners SR 520 corridor revenues are modestly stronger than last year’s forecast, meeting coverage covenants comfortably and that modeling shows the corridor could support issuance of $254 million of currently authorized but unissued bonds.
Jason Richter, deputy treasurer in the State Treasurer’s Office, presented the annual SR 520 toll‑facility financial review. Using updated traffic and revenue projections and fiscal‑year 2025 audited results, Richter said the corridor’s net revenues were projected about 1.2% better than the prior year’s forecast and that coverage requirements for…
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