Toll agencies oppose traffic studies being made public
Toll agencies testify to keep financial studies secret from the public
By Terri Hall
Examiner.com
April 18, 2015
Fireworks erupted in the Texas House Transportation Committee Thursday as Rep. Cindy Burkett laid out her bill, HB 2620, to make toll viability studies subject to open records laws. The North Texas Tollway Authority (NTTA) and Regional Mobility Authorities (RMAs) testified that they want to keep the studies secret from the public until at least 90 days prior to issuing bonds. In effect, that’s well after the public and decision makers can do anything to stop a project that’s not financially viable. The NTTA cited ‘possible’ issues with bond investors and federal securities law if the information released from preliminary studies conflict with final investment grade studies.
Committee members grilled the toll agencies for nearly an hour. Rep. Ron Simmons told the NTTA’s bond counsel that the Emerging Technology Fund bureaucrats testified against transparency, too, claiming similar issues on deals with private equity firms. But Simmons would have none of it.
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