With all due respect to the press, we have problems figuring out exactly what Monday’s ruling of the California trial court ruling was, regarding the legality of funding for the high-speed rail project that is supposed to link Los Angeles and San Francisco in the sweet bye and bye. So here it is, and you can do the figuring outing yourself:
“A Sacramento Superior Court judge on Monday ordered the agency building California’s high-speed rail system to rescind its original funding plan, a decision that figures to halt state bond funding for the $68 billion project until a new plan is put in place.
“But, in another ruling in the same case, Judge Michael P. Kenny refused to block the California High-Speed Rail Authority from spending the $3.4 billion in federal money it already has obtained to build an initial rail segment near Fresno.
“In a second case, Kenny declined the rail authority’s request to validate its issuance of $8 billion in bonds that California voters approved in 2008 in Proposition 1A. The ruling sets the stage for several of the project’s opponents to challenge its financing even further.”
For the whole Sacramento Bee article click here: http://www.sacbee.com/2013/11/25/5945785/sacramento-judge-delivers-setback.html#storylink=cpy