The Honolulu City Council voted 7 to 2 to approve Bill 37, which would allow the Honolulu Authority for Rapid Transportation to borrow up to $450 million additional, if they run out of money for the $5.27 billion rail project on Oahu. The bill would still have to go to Mayor Peter Carlisle for his approval, but experts feel that this is only a formality as Carlisle has been a strong supporter of the rail project from the beginning. Tom Berg and Ann Kobayashi were the two council members who voted no. Romy Cachola and Tulsi Gabbard voted yes, with reservations.
According to the Honolulu Authority for Rapid Transportation, the city does not expect to use the $450 million line of credit, and that it is only necessary to give assurance to the Federal Transit Administration before they give the city $1.55 billion in federal funding.
Source: Honolulu Star Advertiser, 6-7-2012, www.staradvertiser.com
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