State Appeals Court Orders Validation Of Bond Issue to Finance High-Speed Rail

摘要

A California appeals court has ordered a lower court to validate the bond issue that would finance a proposed high-speed rail system (Tos v. Calif. High-Speed Rail Auth., Cal. Ct. App., No. C075668, 7/31/14). In its 3-0 ruling, the California Court of Appeals for the Third District July 31 ordered the Superior Court for Sacramento County to enter a judgment validating the bond issuance for purposes of the voter-approved initiative and vacate its order requiring the authority to redo its financial plan. The lower court found the California High-Speed Rail Authority (CHSRA) had abused its authority in approving a funding plan that it said did not comply with the conditions spelled out in the original ballot measure authorizing the system's construction.