In August, we reported that Judge Michael Kenny ruled that the California High Speed Rail Authority (CHSRA) violated the voter- approved, 2008 Proposition 1A by advancing a funding plan that did not specifically identify sources of funds. Proponents of the high speed rail argue that since the plan was approved by the California Legislature, only…
Last week, we posted a blog about the importance of Stockton’s voters approving a sale-tax hike to stabilize the city’s finances. On November 5, 2013, 53 percent of voters approved the ballot measure that calls for a 9 percent sales tax (up from 8.25 percent). This tax increase is projected to generate approximately $28 million…
We previously posted a story about Stockton’s plan to exit bankruptcy. That plan hinges on Stockton residents’ approval of a tax measure that would increase Stockton’s sales tax to 9 percent from the current 8.25 percent. Reuters reports that residents will be hitting the polls Today, November 5, 2013– city officials are optimistic that the…
San Jose Mercury News reports that engineering for the first operable, 30-mile segment of “America’s first high-speed rail system” is underway in Fresno, California. In 2008, voters were promised a 800 mile route that boasted speeds of 200+ mph and allowed one to travel between San Francisco and Los Angeles in just under three hours….
On Wednesday, the House of Representatives overwhelmingly approved the Water Resources, Reform and Development Act by a vote of 417-3. The bill aims to shorten the U.S. Army Corps of Engineers review process, which critics say delays projects and increases costs to taxpayers. In addition, the bill authorizes a broad array of water-related infrastructure projects…
In their response to a judge’s ruling that the California Bullet Train Project has failed to comply with spending controls put in place by California voters, California High Speed Rail Authority (“CHSA”) officials are contending that the state may use federal funds to start construction of the first operational portion of the train system. In…
Federal courts around the nation are nearing the last bit of reserve funds set aside in case of a government shutdown. Now they risk seeing more and more proceedings come to a grinding halt. Although criminal cases will continue to be administered in accordance to the principle of speedy trials, civil cases will begin seeing…
The struggling city of Stockton has made headway into its climb out of financial despair. The city council has agreed to move forward with a plan that allows Stockton to adjust its outstanding debts while striking deals with its largest creditors–a number of bond insurers. These very bond insurers were the strongest voice in opposition…
Although the U.S. Bankruptcy courts have managed to keep their doors open through the initial stages of the Government shutdown, questions remain as to how long they can function with sharp reductions in funding. Reuters reports that Federal courts will rely on filing fees and other appropriations to pay normal wages to employees, but after…
1. Credit Card Debts Credit card debt is one of the most common types of debt carried by Americans today, and it is often a primary reason for filing bankruptcy. Absent fraud, credit card debt can generally be discharged (i.e. eliminated) in bankruptcy. 2. Medical Bills Medical bills are another primary reason for filing bankruptcy…
