By Kathleen Ronayne, The Associated Press, KCRA 3 NBC; March 26, 2019
Sacramento, Calif. (AP) —
California sold $600 million in bonds Tuesday to help pay for its high-speed rail project even as lawmakers and Gov. Gavin Newsom acknowledge challenges to completing the line between Los Angeles and San Francisco.
The bond money is a key source of funding for the troubled project, which has been beset by cost overruns and delays. Voters approved $10 billion in bonds in 2008 and the state routinely sells them. The entire project is estimated to cost $77 billion.