The California High-Speed Rail Authority has a route. Now all it needs are tens of billions of dollars to actually build a high-speed passenger train system between Los Angeles and San Francisco. The authority’s board on Wednesday selected a preferred routing to carry the proposed line into the San Francisco Bay area from the Central Valley. The board chose to select a more direct but less populated routing through the Pacheco Pass over the more-populated Altamont Pass. The decision, while important to dozens of transit and transportation advocates who attended Wednesday’s meeting in Sacramento, will be moot unless the authority comes up with money to build the project. As it stands now, the project is supposed to be seeded with proceeds from a $9.95 billion general obligation bond measure that is currently scheduled for the state’s November ballot, though the final tab is expected to be much higher. But lawmakers have twice postponed the high-speed rail measure, which was originally to have appeared on the ballot in 2004, and the possibility remains that they will postpone the measure again, if not kill it outright.
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The competitive sale comes as the market prepares for a very New York-heavy week next week in the primary.
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"We, the city of Philadelphia proper, we can't do it alone," Parker said in a keynote address at The Bond Buyer Infrastructure conference Tuesday. "We are grateful to our state and our federal partners, as well as the bond market."
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For municipals, Wednesday "marks a crucial step forward, perfectly aligned with the current risk landscape," said James Pruskowski, chief investment officer for 16Rock Asset Management.
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The Republican presidential nominee reverses course on his own policy
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"It's great people are thinking about creative solutions, but don't forget the rules still apply," said the SEC's Dave Sanchez.
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Up to $182 million of bonds will be issued by a city of Frisco entity to renovate Toyota Stadium, home to Major League Soccer's FC Dallas.
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