According to those that oppose the project the entire cost has to be secured before it can proceed. Those that oppose state there is no private monies to contribute. It would seem that is not the case.
The state is up against a deadline for spending the monies supplied by the federal government. I would think with private interest willing to invest, the federal dollar deadline could be extended until the court ruling could be appealed.
The state is up against a deadline for spending the monies supplied by the federal government. I would think with private interest willing to invest, the federal dollar deadline could be extended until the court ruling could be appealed.
California's planned bullet train moves ahead despite a recent court challenge, according to Ben Tripousis, who heads the Bay Area segment of the $68 billion project.
...Sacramento County Superior Court Judge Michael Kenny (click here) on Nov. 25 rejected a request from the High-Speed Rail Authority to sell $8 billion of the $10 billion in bonds approved by voters in 2008. Kenny said state bullet train planners were wrong to determine it was “necessary and desirable” to start selling the bonds....
...Gov. Jerry Brown has budgeted $250 million for the high-speed rail project this year, money he said will come from the state’s cap-and-trade program.
That public money, Tripousis said, will help attract private investors that are needed to pay for the project. Tripousis said China, Japan and other foreign countries with bullet train systems have expressed interest in operating some aspects of California’s bullet train....
