California Gov. Jerry Brown signed a bill Wednesday that authorizes spending $4.7 billion, partly from the sale of bonds, to start construction of a high-speed intercity passenger rail network.

Brown said the state’s investment would be matched by $7.9 billion in federal and local money to fund transportation projects linked to the high-speed rail project.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.