CHSRA to receive balance of FY funding

Posted on April 7, 2009

California High-Speed Rail Authority (CHSRA) officials confirmed that the balance of its funding for the 2008-09 fiscal year has been made available by the State Treasurer’s Office.

The state’s High-Speed Rail Finance Committee approved the CHSRA’s $29.1 million bond loan request in January, but processing was stalled due to the state’s Pooled Money Investment Board’s decision to freeze disbursements for this and other projects until the successful sale of General Obligation bonds.

“Today’s confirmation that funding for the project will continue as planned is good news for California’s taxpayers who approved Proposition 1A last November to help fund the construction of the high-speed train project and who rightfully expect that progress will be swift and uninterrupted,” said Mehdi Morshed, executive director of the CHSRA.

The CHSRA is responsible for building high-speed train service covering 800 miles at speeds up to 220 MPH. Building the high-speed train system will cost less than half the cost of freeway and aviation alternatives. Operating the system will create an annual surplus of more than $1 billion, according to the CHSRA.

View comments or post a comment on this story. (0 Comments)

More News

Metra prepares for winter weather with switch covers, heaters

Additionally, agency is continuing to repair and replace railcar doors that are prone to fail in winter conditions.

Alstom to supply Citadis trams to Lyon, France

The order, worth over $21 million, represents the exercise of an option on a contract signed in 2011.

XpressWest chosen to build Las Vegas-to-L.A. high-speed rail

The initial phase of the XpressWest project, which will link Las Vegas to Victorville, Calif., will cost $8 billion.

Honolulu mayor urges council to expedite excise tax vote

Federal officials, which were set to award the project $250 million this month, are concerned that the Honolulu City Council has yet to take a final vote on extending the excise tax for five years to help pay for the system.

Alstom delivers 8 more Australian trains

This delivery milestone follows an additional order for a further five X’Trapolis trains announced by the Victorian state government in March 2015, expected to start operating on the network by late 2016.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close