Beautiful bonds

The Tampa Hillsborough Expressway Authority's plan to issue bonds to pay for a much-needed extension of the Lee Roy Selmon Expressway has brought a bevy of investment.

The authority had planned a bond sale of about $157 million for the project, which, when complete, should greatly ease traffic congestion along Gandy Boulevard in South Tampa. However, investors have jumped onboard to the tune of $1 billion in orders.

The authority says the massive demand will allow it to re-price the bonds — a move expected to reduce its interest costs by some $800,000.