SEPTA is preparing to sell up to $800 million in revenue bonds to help fund projects such as rehabbing stations, trolley modernization, and a $35 million overhaul of the Norristown High Speed Line's Bridgeport viaduct.
SEPTA is preparing to sell up to $800 million in revenue bonds later this year to helpsuch as a $35 million overhaul of a Bridgeport viaduct on the Norristown High Speed Line, rehab of subway and Regional Rail stations, and trolley modernization.
SEPTA says it has at least $4.6 billion of deferred repair needs, as well as dozens of priority projects planned, including the replacement of aging train cars on the Market-Frankford Line.SEPTA says it will forge ahead with trolley modernization in ambitious capital budget Since 2013, another law has required the state Transportation Department to split $450 million yearly among transit services from the Pennsylvania Turnpike Commission, which has issued bonds backed by toll revenues to make the payments. Agencies like SEPTA can’t use their cut as collateral for borrowing because it’s already been committed to the toll road’s creditors.