TITLE

Seattle Monorail Foes' Lawsuit Targets Tax Used to Back Bonds

AUTHOR(S)
Kelemen, Jasmina
PUB. DATE
March 2005
SOURCE
Bond Buyer;3/24/2005, Vol. 351 Issue 32097, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that a determined group of opponents continues to dog the Seattle Monorail Project's (SMP's) efforts to get off the ground, this time filing a new lawsuit that could make it harder for SMP officials to sell bonds to finance the elevated rail system. Project officials are used to obstacles being thrown in the way of their 14-mile line. Despite the swirling controversies, Seattle voters have consistently signaled their support for the project. SMP officials believe the current lawsuit is baseless and are confident they will prevail in court, as they have in similar lawsuits challenging the vehicle tax, but are concerned any pending litigation could scare investors and increase the project's overall price.
ACCESSION #
16522588

 

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