Indiana Toll Road Lease Moves Forward, Paper Says

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The recently approved lease of the Indiana Toll Road was ratified by the state agency that owns the toll highway’s debt, the South Bend Tribune reported Friday.

The Indiana Finance Authority ratified its selection of ITR Concession Co. LLC, a wholly owned subsidiary of Statewide Mobility Partners, to lease the toll road for 75 years in exchange for a $3.8 billion lump sum, the paper said.

The authority’s action paves the way for final approval by Gov. Mitch Daniels, the paper said. Daniels has already given his endorsement of the plan.

Authority officials told the paper they expect the deal to be closed and the payment made on June 30.