Quick-cash fund for rail OK'd

Mayor Carlisle signs a bill creating a $450 million emergency line of credit for the transit system

By Kevin Dayton

POSTED: 01:30 a.m. HST, Jun 16, 2012

~~<p>A bill that will make a city-backed $450 million line of credit available to the Honolulu rail project in case it needs a sudden infusion of cash was signed into law Friday by Honolulu Mayor Peter Carlisle.</p>
<p>The city made the credit line available for rail to appease the Federal Transit Administration, which wanted the project to have a cash cushion available to help cope with any emergencies.</p>
~~

A bill that will make a city-backed $450 million line of credit available to the Honolulu rail project in case it needs a sudden infusion of cash was signed into law Friday by Honolulu Mayor Peter Carlisle.

The city made the credit line available for rail to appease the Federal Transit Administration, which wanted the project to have a cash cushion available to help cope with any emergencies. Login for more...