REPORT: TURNPIKE AUTHORITY BORROWING CASH FOR PARKWAY PROJECT

If the New Jersey Turnpike Authority doesn’t borrow $1.4 billion, the project to remove the traffic lights on our end of the Garden State Parkway would stop in the middle of May.  That’s according to a new report in the Star Ledger, which says the authority is taking out a huge bond to continue various projects on the Parkway and New Jersey Turnpike.  The CFO for the authority says revenue is down $280 million, and the authority is spending $280 million monthly on various capital projects.