The Authority is required to accumulate and maintain a debt service reserve equal to the lesser of the maximum annual debt service on its Highway Revenue Bonds or 10 percent of the principal amount of the bonds outstanding.Transportation Revenue Bonds are payable out of the excess proceeds after payment of Highway Revenue Bonds plus proceeds derived from an Excise Tax on certain petroleum products of $9.25 per barrel up to a maximum of $120 million annually, in addition to any toll revenues on the Authority's traffic facilities that were not financed with Highway Revenue Bonds.The Authority is responsible for the construction, operation and maintenance of Puerto Rico's toll road network, major highways and mass transportation facilities. It makes intersections with PR-22, PR-6, PR-2 and PR-199, where it ends.Puerto Rico Highway 17, also Jesus de Piñero Avenue, begins at PR-20 near its terminus with PR-2, and ends in the Luis Muñoz Marín International Airport in Carolina. Description: PR-22 (also known as the Jose de Diego Expressway) is a 52-mile, 4- and 6-lane toll highway that stretches westward from San Juan to Arecibo along Puerto Rico's northern coast. There are four types: primary, urban primary, secondary, and tertiary. : (787) 722-2525 ext. BERLIN–(BUSINESS WIRE)–The Puerto Rico Highway and Transportation Authority (PRHTA) ... That advancement is the conversion of existing toll roads to all electronic,” explained Ruben Hernandez-Gregorat, Secretary of Transportation for the PRHTA. PR-22 toll road, also known as the José de Diego Expressway, is 51-mile road in the north coast of Puerto Rico that connects the cities of San Juan and Hatillo. "The Puerto Rico Highways & Transportation Authority will not default on the payment due on its bonds payable on July 1," Government Development Bank president Javier Ferrer told "The funds are on deposit with the trustee and will be paid to bondholders as always. PR-17 – Connects PR-26 to PR-20 in San Juan (one toll collection). Puerto Rico Public-Private Partnerships Authority. The governor has not provided further explanation.García Padilla has been saying that all of Puerto Rico's authorities must stop seeking financial support from the commonwealth for operating expenses.In the last few days a vigorous discussion has developed about what sources of revenues the authority should use to improve its finances.The GDB, the authority, the Treasury Department, García Padilla and leaders of the Puerto Rico legislature are working out proposals, according to a GDB spokesman and press accounts.On Tuesday a Puerto Rico Senate committee had a hearing on the PRHTA's financial problems.The authority needs to raise revenues to gain financial stability, Donahue said, adding that "it remains to be seen if the political will exists." Here is a list of toll roads in Puerto Rico: PR-5 – Connects PR-22 to Baymón (one toll collection). Alejandro García Padilla, elected in January, is on track with efforts to stabilize the commonwealth's budget.The Highways & Transportation Authority is responsible for the construction, operation and maintenance of Puerto Rico's toll road network, major highways and mass transportation facilities.It has been bleeding money for years.According to the GDB, the authority's annual fiscal deficit was $371 million in fiscal 2009, $360 million in fiscal 2010, $372 million in fiscal 2011, $345 million in fiscal 2012 and $245 million in fiscal 2013.Its debt to the GDB has grown from $751 million on June 30, 2009, to $2.05 billion in Dec. 31, 2012.While the bulk of the debt has been used for capital improvements, a substantial amount of the debt since fiscal 2010 has been used to cover operating expenses.It is not good to see the authority depending on the GDB to cover its operating expenses, Schankel noted.The authority's revenue stream is pretty good, said John Hallacy, manager of municipal research at Bank of America Merrill Lynch.