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  • Link to article here.

    Texas’ first foreign-owned toll road handed to its creditors
    By Terri Hall
    August 15, 2016
    Selous Foundation for Public Policy Research

    It was so predictable. The people of Texas revolted against former Governor Rick Perry’s grand network of toll roads, once dubbed the Trans Texas Corridor, and many grassroots groups that sprung up to oppose it predicted its eventual demise. The press, always eager to jump on the ribbon cuttings, seldom show you the angling inside bankruptcy court, yet that’s where State Highway 130 Concession Company ended up. As part of its Chapter 11 bankruptcy, Spain-based Cintra and San Antonio-based Zachry ceded the delinquent toll project to its creditors Friday.

    The southern 41-mile stretch of SH 130, a bypass designed to avoid Austin traffic from Mustang Ridge to Seguin, opened with much fanfare in November of 2012, including an appearance by Perry who hailed this first public private partnership (or P3) as highway nirvana and ‘visionary.’ But crony capitalism is as old as dirt and taxpayers didn’t see it as anything other than graft.

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