Clark County commissioners give approval for high-speed rail line to SoCal [View all]
An ambitious plan for a high-speed passenger train from Las Vegas to Southern California moved another step closer to reality today following a vote by Clark County commissioners.
Commissioners voted unanimously to approve findings by the Nevada Department of Business and Industry related to financing for the proposed $5 billion rail line from Las Vegas to Victorville, Calif., a distance of about 190 miles.
Last year, Virgin Trains USA applied to sell $200 million worth of tax-exempt private activity bonds through the state, money that would go toward the project. Virgin Trains is doing business for the project as XpressWest.
The state’s involvement in issuing the bonds would be only as a pass-through and it wouldn’t be obligated to step in if revenues from the project are not sufficient to cover bond payments, a Department of Business and Industry official said.
Read more: https://lasvegassun.com/news/2020/jul/21/clark-county-commissioners-give-approval-for-high/
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