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C O N F E R E N C E P R O C E E D I N G S 3 3 Transportation Finance Meeting the Funding Challenge Today, Shaping Policies for Tomorrow Report of the Committee for the Third National Conference on Transportation Finance Chicago, Illinois October 27â30, 2002 Sponsored by Transportation Research Board Federal Highway Administration TRANSPORTATION RESEARCH BOARD WASHINGTON, D.C. 2005 WWW.TRB.org
Transportation Research Board Conference Proceedings 33 ISSN 1073-1652 ISBN 0-309-09499-2 Subscriber Category IA planning and administration Transportation Research Board publications are available by ordering individual publications directly from the TRB Business Office, through the Internet at national-academies.org/trb, or by annual sub- scription through organizational or individual affiliation with TRB. Affiliates and library subscribers are eligible for substantial discounts. For further information, contact the Transportation Research Board Business Office, 500 Fifth Street, NW, Washington, DC 20001 (telephone 202-334-3214; fax 202-334-2519; or email TRBsales@nas.edu). Printed in the United States of America. NOTICE: The project that is the subject of this report was approved by the Governing Board of the National Research Council, whose members are drawn from the councils of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. The members of the committee responsible for the report were chosen for their special competencies and with regard for appropriate balance. This report has been reviewed by a group other than the authors according to the procedures approved by a Report Review Committee consisting of members of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. The views expressed in the presentations and papers contained in this report are those of the authors and do not necessarily reflect the views of the committee, the Transportation Research Board, the National Research Council, or the sponsors of the conference. The conference was sponsored by the Transportation Research Board and the Federal Highway Administration of the United States Department of Transportation. Committee for the Third National Conference on Transportation Finance (As of 2002) William D. Ankner, Rhode Island Department of Transportation, Chair Peter (Jack) Basso, American Association of State Highway and Transportation Officials Thomas W. Bradshaw, Jr., Salomon Smith Barney Anne P. Canby, Canby Associates Lowell R. Clary, Florida Department of Transportation Yuval Cohen, PB Consult, Inc. Edward J. Corcoran II, Foley Hoag, LLP John W. Flora, World Bank Bryan Grote, Mercator Advisors, LLC Dennis G. Houlihan, American Federation of State, County, and Municipal Employees Susan P. Mortel, Michigan Department of Transportation Michael A. Pagano, University of IllinoisâChicago William G. Reinhardt, Public Works Financing Anthony J. Taormina, OmniTRAX, Inc. Vicki L. Winston, Alameda County Public Works Agency Liaison Members Paul Marx, Federal Transit Administration JoAnne McGowan, Federal Railroad Administration Suzanne H. Sale, Federal Highway Administration Transportation Research Board and Conference Staff Mark R. Norman, Director, Technical Activities Claire L. Felbinger, Senior Program Officer, Transportation Policy and Management Bruce Millar, Meeting Coordinator Mary Kissi, Program Assistant Tamar Henkin, TransTech Management, Inc. Karin DeMoors, TransTech Management, Inc. Publications Office Joseph E. Gawel, Ann E. Petty, and Norman Solomon, Editors Jennifer J. Weeks, Senior Editorial Assistant Kristin M. Sawyer, Proofreader