Judge Blocks Sail of High-Speed Rail Bonds

By: AP Email
By: AP Email

SACRAMENTO, Calif. (AP) - A Sacramento County Superior Court judge is blocking the sale of bonds to build California's bullet train and has rejected the state's funding plan, jeopardizing the future of the project.

In rulings issued Monday, Judge Michael Kenny rejected a request from the California High-Speed Rail Authority to sell $8 billion of the $10 billion in bonds approved by voters in 2008. He says state officials were wrong to determine it was "necessary and desirable" to start selling the bonds.

In a separate lawsuit, he ordered the rail authority to redo its $68 billion funding plan before continuing construction, a process that could take months or years.

The lawsuit claimed that the project's current plan no longer complies with what voters were promised, and the judge agreed.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 233353041 - kolotv.com/a?a=233353041
Gray Television, Inc.