Valley News -

By City News Service
Special to Valley News 

 Senator seeks to stop further bond sales in support of high-speed rail

 

Last updated 3/1/2019 at 2:06am



A bill that would bar the state from issuing any further bonds to fund the California High-Speed Rail Project following Gov. Gavin Newsom’s vow to scale it back amid cost overruns has been introduced, its author, Sen. Jeff Stone said.

Senate Bill 340, if approved by the Legislature and signed by Newsom, would make it illegal for state authorities to sell the remaining $6.6 billion in general obligation bonds authorized under Proposition 1A, approved by the state’s voters in 2008.

According to the Department of Finance, $3.3 billion of the voter-approved bond has gone to market since 2...



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