$68B Calif. High-Speed Rail Plan Goes Back To Drawing Board

Law360, San Francisco (November 25, 2013, 7:13 PM EST) -- A California state judge Monday barred the state from selling voter-approved bonds to fund its high-speed rail project and ordered officials to rewrite the railway's $68 billion funding plan, finding that it failed to meet all state-law requirements and could wind up wasting taxpayer money.

Sacramento Superior Court Judge Michael Kenny's rulings in two separate cases involving the California High-Speed Rail Authority effectively blocked the agency from moving ahead with issuing bonds or spending more money on construction until the funding plan is redrafted.

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