Judge blocks sale of California high-speed rail bonds, rejects funding, jeopardizing project

[PoliticAverse]

SACRAMENTO, Calif. — A Sacramento judge on Monday tore up California's funding plans for its bullet train project in separate orders that could force the state to spend months or years redrawing its plans for the $68 billion undertaking.

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, saying there was no evidence it was "necessary and desirable" to start selling the bonds when a committee of state officials met last March.

He said the committee was supposed to act as "the ultimate 'keeper of the checkbook'" for taxpayers, but instead relied on a request from the high-speed rail authority to start selling bonds as sufficient evidence to proceed.

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

Read the rest at: http://www.startribune.com/business/233352481.html

[lostincalifornia]

1. maybe it is a valid ruling, however, we are behind so many European and Asian countries in rail

transport it is quite sad.

[msongs]

2. yes but we are way ahead in spending on self-serving welfare military "contractors" nt

[SoapBox]

7. Ohhhhh, isn't that the truth.

[antiquie]

3. We voted the money with conditions --

no missing money; no wasting money;
no allocating money without specificity.
We need high-speed rail done the right way.

(IMNSHO)

[Auggie]

4. Local projects need to take priority, IMO

I've been against the bullet train from the beginning.

[Lordquinton]

5. They need it for the tunnels.

Too bad the judges aren't stepping in on that disaster.

[flamingdem]

6. And the judge is acting in the interest of?

Not the people who voted for the project, maybe someone else

[antiquie]

8. Why do you say this?

I am sincerely interested because I thought the judge was protecting our interests.

[Throd]

9. You have it backwards.

The judge made his ruling because the project has morphed into something other than what the people voted for.