SAN FRANCISCO — A Washington judge has dismissed a lawsuit that tried to void the state's $519 million bond deal for a floating bridge project.
The Whatcom County Superior Court tossed the suit by anti-tax and initiative crusader Tim Eyman in an order filed Tuesday.
The lawsuit, filed at the end of October, claimed the state finance committee acted outside of its authority when it approved the bond sale and asked the court to declare the bonds invalid.
Washington State's bond counsel, Foster Pepper PLLC, said nothing in the complaint has changed its legal approval of the bond issue, according to a supplemental disclosure to the official statement.
The state finalized the sale of the bonds last month for the State Route 520 floating-bridge replacement project.
The venture is backed first by toll revenue from the bridge, then by motor vehicle fuel taxes, and finally by the general obligation of the state.
Credit agencies last month left their ratings unchanged despite the legal action.