California judge blocks use of state money for bullet train

[\GoBillsInDallas/]

http://www.latimes.c...,0,725258.story

 

(Judge) Kenny ruled that the state does not have a valid financing plan, which was required under the 2008 bond measure, Proposition 1A. The measure included provisions intended to ensure the state did not start the project if it did not have all of the necessary funds to complete a self-supporting, initial operating segment. The state rail agency created a funding plan, but it was an estimated $25 billion short of the amount needed to complete a first working section of the line. Kenny ruled that the state must rescind the plan and create a new one, a difficult task because the state High-Speed Rail Authority hasn't identified sources of additional revenue to allocate to the project.

 

Separately, in an action brought by the state to support its actions, Kenny found officials made critical errors in approving the sale of the bonds and declined to legally “validate” the sale. California Treasurer Bill Lockyer has said he will not sell bullet-train bonds without a court validation. It appears to be the first time in state history that a judge refused to validate a bond sale.

Edited November 25, 2013 by \GoBillsInDallas/

[Alaska Darin]

Damn activist judges.

[boyst]

And when the skies gloomed darkest a light shined thru. Let's hope its a beacon to sensible thinking and rational thought.

 

Funny that the US Court system could rip apart all of this progress.!

[Dante]

Damn. What will I ever do without that bullet train? I was so counting on it as I was thinking of dumping my car and start to use public transit.

[Chef Jim]

And SF may be stuck with a $400mil train station with not trains.

 

http://www.sfgate.com/bayarea/matier-ross/article/Bullet-train-snag-could-affect-Transbay-Terminal-5015444.php

 

Although the station itself is fully funded, much of the $2.5 billion needed to build the 1.5 miles of track from the Transbay Terminal to the existing rail terminus at Fourth and Townsend streets "still needs to be secured," said Adam Alberti, spokesman for the Transbay Joint Powers Authority.

 

Say what???

[Koko78]

And SF may be stuck with a $400mil train station with not trains.

 

http://www.sfgate.co...nal-5015444.php

 

 

 

Say what???

 

Tell you what, I'll make that 1.5 miles of track happen for only $1.8 billion.