bond

Governor Brown Signs High Speed Rail Funding Bill

Jul 19, 2012
Amy Quinton / Capitol Public Radio

California Governor Jerry Brown signed a bill into law on Wednesday that allows initial construction of a high speed train.

Governor Brown emphasized that California isn’t just funding a bullet train, but making an investment in the state’s economic future. The bill authorizes the state to begin selling $2.6 billion in voter approved bonds.

He celebrated the signing in both Los Angeles and San Francisco. Both cities will serve as major hubs for the eventual 130 miles of track through the Central Valley. But the Governor chose not to sign it there.

The bond rating firm Fitch announced this week that it is downgrading the debt of a Tulare county hospital. The Tulare Local Health Care District saw its rating dip from BBB- to BB+.

The firm cited the hospital’s recent drop in profitability, and dramatic decline in liquidity as factors for the downgrade. The organization believes the hospital’s financial health will stabilize in the remainder of 2012, as a new 24 bed emergency wing is completed at the Tulare Regional Medical Center.