California Virgin Trains USA proposal gets bond boost from committee

By Richard N. Velotta, Las Vegas Review-Journal; September 19, 2019

Development of a high-speed rail line took another leap forward Wednesday when a California committee approved $300 million in tax-exempt private activity bonds to help finance the Virgin Trains USA proposal to link Las Vegas with Victorville, California.

Virgin is seeking $800 million in bonding authority to issue $2.4 billion in debt — about half the amount the company needs to finance train sets and the 185 miles of dual tracks along the Interstate 15 corridor.

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