Monday, November 25, 2013
The CAHSR Authority has been dealt what is likely a fatal blow today. Good.
Judge blocks bond sale for high-speed rail project
Nov 25 (Reuters) - A California judge on Monday ruled against the state's plan to issue more than $8 billion in bonds to build a planned high-speed train system and rescinded the project's funding plan, estimated at $68 billion dollars.
"In this case, the Court can find no evidence in the record of proceedings submitted by plaintiffs that supports a determination that it was necessary or desirable to authorize the issuance of more than eight billion dollars in bonds under Proposition 1A as of March 18, 2013," he said in the ruling.
CAHSR has always been such a bad idea as designed that this is actually a good thing but the supporters won't ever see that.
I would be all for a 220mph LA to SF system operational 2016-17 as was marketed in 2008. I still am. And there is the problem. The proponents lie.