One of the nation’s largest transportation borrowers issued its first bond disclosure about the fiscal impacts from the COVID-19 pandemic.
Of $10 billion allocated in the CARES Act, public airports can use $7.4 billion for any lawful purpose, including the payment of debt service.
The bi-state transportation agency's executive director, Rick Cotton, recovered from virus than three weeks after testing positive.
They asked for a combined $4.4 billion.
Port Authority of New York and New Jersey Executive Director Rick Cotton plans to maintain day-to-day operations from home after a positive coronavirus test.