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Report on the Debt Service Reserve Pilot Program

The Debt Service Reserve Pilot Program (DSRPP) was established under 49 U.S.C. 5323(d) by the Safe Accountable, Flexible, and Efficient Transportation Equity Act:  A Legacy for Users (SAFETEA-LU).

This report to Congress provides information on FTA's implementation of the DSRPP.  The DSRPP sought to provide credit support and reduce overall project expenses by providing public transportation project sponsors that plan to issue bonds in the capital markets with the additional flexibility to use Federal grants to establish and maintain a debt service reserve fund.

This report was transmitted to Congress in September 2008.

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