Holders of $287 million of municipal bonds sold to help finance the construction of the American Dream mega-mall in New Jersey’s Meadowlands are poised to receive overdue interest next week after two years of missed payments.

The unrated bonds, which are backed by New Jersey economic development grants, skipped payments after documentation necessary to appropriate the funds ran into hurdles. New Jersey officials needed to certify a project cost statement and the state Treasury had to calculate the grant amount. The grant funds are tied to tax revenue derived from sales at the mall, which saw double-digit year-over-year increases the past two quarters.

NEWARK, N.J. — The New Jersey Transit fare holiday starts Monday, with free rides on trains and buses all week long. 

New Jersey Gov. Phil Murphy says the fare holiday is meant to be a “thank you” to commuters who have dealt with months of service problems. The free rides will run through Monday, Sept. 2.

Monthly pass holders who purchased an August pass will automatically receive a 25% discount on their September monthly pass.

NJ Transit fare holiday follows months of issues

The fare holiday comes as lawmakers proposed a passenger bill of rights, called the All Aboard Act. Lawmakers say it would refund commuters if trains are canceled or delayed by at least three hours. 

NJ Transit also implemented a 15% fare hike — its first in nearly a decade — back in July. 

Riders have faced several delays and cancellations, mainly due to overhead wire issues on the Northeast Corridor, which is owned by Amtrak. 

Murphy says Amtrak and NJ Transit have been working to improve service by stepping up inspections, repairing the overhead wire power supply system, as well as signals and substations. 

An Amtrak spokesperson told CBS News New York in a statement, “the rail company has launched its largest-ever capital investment program, which has more investment planned in New Jersey than any other state,” adding the federal government has funded $6 billion for the effort. 

NJ Transit riders welcome free rides, but want more

Some riders questioned the fare holiday’s timing — coming on one of the slowest public transportation periods of the year. But they said they appreciate the little bit it does for their wallets. 

“I think they should give us, instead of seven days, why not seven months? Why not more?” said Felisha Thomson, of South Orange. “We appreciate the seven days though. But only two days out of that one week I’m going to work.”

“I’m really glad that at least we have a week. I wish we had a month or something, but it’s great” Lauren Ortega said. 

“It’s awesome, I think the city should appreciate that,” Assem Mahmoud said. “Anything free, if it’s really free, that’d be cool.”

“I think it’s so beautiful for people to be able to get free rides. How amazing,” another rider added. “So amazing, thanks Phil [Murphy].”