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Wednesday, September 12, 2012

Supreme Court lifts block on Clacky rail bonds

Score one for the rogue county commissioners in Clackistan -- the Oregon Supreme Court denied the opponents of the rush-rush bond issue their requested order permanently barring the county from borrowing $20 million to pay to Tri-Met toward building the Milwaukie Mystery Train.

Now the question becomes whether the county can get a bank loan and pay Tri-Met in light of (a) questions that have been raised about the legality of the loan's authorization, and (b) the current election that would prohibit the county from taking further action in support of the light rail project. The votes will be counted from the election on Tuesday.

Two commissioners are up for re-election in November.

Comments (2)

I am convinced that if I could just join forces with the Portland City Council and Clacky commissioners we could rule the world. Just not sure who else would want to live here.

Is the bond attorney risking his reputation (ha ha ha) and ability to do business with this tainted deal so that buyers will not trust his bond offerings in the future? Just how trustworthy is the bond market?

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