
Alaska Railroad to Issue Tax-Exempt Bonds
ANCHORAGE, Alaska – The Alaska Railroad Corp. (ARRC) will issue tax-exempt bonds in this month to finance rail transportation projects. During the last legislative session, the Alaska Legislature voted unanimously to allow ARRC to issue up to $165 million in tax-exempt bonds backed by Federal Transit Administration (FTA) formula funds that the Corporation receives annually. ARRC is moving forward with its first issuance of approximately $76 million in tax-exempt bonds in 2006 with the remaining debt to be issued in future years. “This is a historic moment for the Alaska Railroad and Alaskans,” said Governor Bill Sheffield, Chairman ARRC Board