The LA Times has news of a new study from California's Legislative Analyst's Office concluding that the California High-Speed Rail project's most recent funding plan does not meet requirements of Prop 1A, the $9 billion dollar, voter-approved bond that authorizes the project. In the report (available here), the LAO points out that high-speed trains will not be able to operate on the first segment--a 130 mile stretch between Bakersfield and Chowchilla--which is required in order for bonds to be issued. Dan Richard, a rail authority board member told the LAT: "'We have the resources and the ideas for how one could deal with it' if the report's conclusions become 'a real obstacle.'" [LAT/Mercury News]
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