THCEATampa Hillsborough County Expressway Authority (Florida)
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THCEA agrees to reimburse FDOT on a deeply subordinated basis from the general reserve fund, as available.
THCEA operates the Lee Roy Selmon Crosstown expressway, a 15-mile, four-lane, limited access highway that crosses the Tampa metropolitan area from west to east.
The underlying 'A-' rating on the bonds reflects the gross revenue pledge of the THCEA, the lease-purchase agreement with the Florida Department of Transportation (FDOT), whereby FDOT is obligated to cover operation and maintenance (O&M) expenses and renewal and replacement costs for the life of the debt, the growing service area, the mature traffic base with a large commuter component and state support for capital needs in the form of deeply subordinated loans.
THCEA operates the Lee Roy Selmon Crosstown Expressway, a 15-mile long main artery that runs from south Tampa through downtown to Brandon, Florida.