Dick Larkin's Palm Beach Post Weekly Column: FOR WHOM THE ROAD TOLLS—TURNPIKE BONDS

Monday, Oct 17, 2016

Dick Larkin
Director of Credit Analysis
Stoever Glass & Co., Inc.
P: (862) 432-8818
E: dlarkin@stoeverglass.com

Turnpike bonds are issued for high-speed/limited access highways. The bonds issued for these turnpikes are repaid by tolls charged for use of the toll road.

There are two classes of typical toll roads. The first are well established highways that provide rapid transportation between major markets, for which there is little or no competitive alternatives. These are the safest types of turnpike bonds. An example is the New Jersey Turnpike, which provides a vital link in the I-95 network that stretches from Maine to Florida. Disruption or closing of this north/south artery commercial trucks and cars would cripple the economy of the important Boston to Washington DC Corridor.

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