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Bullet Train Project In Danger After Judge Blocks Sale Of Bonds

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(credit: CBS)

(credit: CBS)

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SACRAMENTO (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.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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