Evolving Debt Finance Practices for Surface Transportation (2017) / Chapter Skim
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Pages 8-14
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9 chapter two Use of Debt finance for sUrface transportation introDUction Drawing on the literature review and survey, this chapter reviews the use of debt among states for surface transportation, including general statistics and information regarding debt issuing authority and management practices. For full state responses to the survey's qualitative responses, please see Appendix C
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10 Iowa State Code gives the state treasurer authority to issue a variety of debt types and determine the most economical method of financing for requests by state agencies. for Which purposes is Debt issued?
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11 Which types of Debt are authorized? As shown in Figure 11, 76% (32 states)
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12 Do constitutional or statutory provisions Govern Debt issuance procedures? As shown in Figure 13, of 43 state DOTs responding, 37 report constitutional provisions or statutes that govern the manner in which debt can be issued.
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13 issued. Twenty-nine (78%)
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14 debt for other transportation modes, including transit, airport, rail infrastructure, and rolling stock. Sixteen states report no debt for these modes, and six responding states are unsure.
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15 For example, Wisconsin forecasts debt capacity as part of the state's biennial budget process, which estimates debt service payments for the upcoming 2 years. Similarly, Kentucky performs debt capacity analysis for the state's appropriation-supported debt, and typically forecasts cover at least 2 years but sometimes forecast 4 or 6 years, depending on the need.
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