Provides for the issuance of $9.95 billion of general obligation bonds, $9 billion of which would be used in conjunction with available federal funds for the purpose of funding the planning and construction of a high-speed train system in this state pursuant to the business plan of the authority. Nine hundred fifty million dollars of the bond proceeds would be available for capital projects on other passenger rail lines to provide connectivity to the high-speed train system and for capacity enhancements and safety improvements to those lines

My Take

Some people are talking about how California is already in a bad economic state, and we should be putting ourselves into more debt. Well, this is not that kind of debt. This is raising money for a specific project. Also, if you got burnt on the stock market and want some place to put your money, invest in California. BTW, it will be tax free, so stop investing in Delaware corporations screwing things up on Wall Street and put your money into California.


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