Administrative/Regulatory
Jul. 25, 2017
State water agency claims it can issue $11B in bonds
The California Department of Water Resources has filed a validation action in Sacramento Superior Court seeking to confirm its authority to issue bonds for the $16 billion project known as the California WaterFix.
SACRAMENTO — The California Department of Water Resources has filed a validation action in Sacramento Superior Court seeking to confirm its authority to issue bonds for the $16 billion project known as the California WaterFix.
The filing starts a 60-day window in which any member of the public can challenge the proposed bond contracts.
Validation actions are often routine steps in large publicl...
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