XpressWest's first phase route would connect the 170 miles between Las Vegas and Southern California's Victor Valley.Photo – gobrightline.com
XpressWest, a proposed project to construct a high-speed rail line that would operate between Southern California and Las Vegas, has been awarded $200 million in private activity bonds from the Nevada State Board of Finance, a business newsletter reported yesterday.
The Nevada award comes after a California committee, overseen by California Treasurer Fiona Ma, awarded the project $600 million of private activity bonds in April. To raise additional funds for the project, both state allocations allow the company to sell up to four times the value of the awards as tax-exempt bonds to private investors, according to the Southern California Partnership for Jobs newsletter, which cited a report in Forbes.