Portland Eyes Light-Rail Bonds

Portland’s City Council looks likely to approve $45 million of revenue bonds next week in support of a $1.4 billion light-rail project.

The council appears poised to vote next week for the debt sale and the creation of a district to pay for the bonds, according to the Portland Tribune newspaper.

All five council members have spoken in favor of the project, which would extend the Tri-County Metropolitan Transportation District’s MAX line from Portland State University to downtown Milwaukie, the newspaper said.

The bonds would also help fund a new bridge over the river for city streetcars that would complete a transit loop.

The federal government will pay 50% of the project, with other funds coming from the Oregon state government, TriMet, Metro and the city of Milwaukie, according to the paper.

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