California sells high-speed rail bonds despite lawsuit
SACRAMENTO, Calif. (AP) — California's state treasurer is selling about $1.25 billion in high-speed rail bonds despite an ongoing legal challenge to the project.
Deputy Treasurer Tim Schaefer said Wednesday that the bonds will be issued on Thursday even though the lawsuit isn't resolved.
A Sacramento County Superior Court judge postponed until next week a hearing on opponents' latest attempt to derail the $64 billion bullet train.
Opponents' attorney, Stuart Flashman, says it won't matter that the bonds are sold because the lawsuit aims to block the state from spending whatever money is raised from the nearly $10 billion in bonds that voters approved in 2008.
Their lawsuit says legislation signed into law last year goes beyond what California voters allowed.
The California High Speed Rail Authority says it was merely clarifying legislation.