MDX’s Outstanding debt as of Dec 7, 2010: $2,536,467,845.00 ($2.5 billion)

MDX's outstanding $2.5 Billion debt

We attended the MDX finance committee meeting yesterday Dec. 7th and learned a few more things about MDX and how it operates.  Mainly that they are operating with a $2.5 Billion debt!!  Not million folks, but a 2.5 “Carl Sagan” BILLION.   Upon learning of this figure I was immediately questioning how a relatively small expressway authority like MDX, that manages less than 50 miles of highway/roads is allowed to accumulate such a staggering amount of debt?  Especially when their total annual tolling revenue is only $110 million dollars.   Is anybody paying attention????

And the majority of the time all that was talked about at the meeting was the need for more funding for “future” projects with little regard for the present debt.

Our suggestion would be to halt future projects and pay down the debt before it gets more out of control than it already is.

Carlos Garcia,

Co-chair,

RollBackTolls.com

This entry was posted in Uncategorized and tagged , , , , , , , , , , , . Bookmark the permalink.

2 Responses to MDX’s Outstanding debt as of Dec 7, 2010: $2,536,467,845.00 ($2.5 billion)

  1. Cynthia says:

    It must some fantastic returns on the bonds MDX sells that encourages carrying this kind of debt with such little revenue stream. Again, I encourage as much as possible- AVOID using those roads- I have and it is not as hard as I thought. Thank you for the eye-opening details and keep it coming.

  2. Pingback: MDX: Dismantling Our Transit System One Route at a Time | Transit Miami

Leave a Reply

Your email address will not be published. Required fields are marked *