- Associated Press - Thursday, April 20, 2017

SACRAMENTO, Calif. (AP) - California’s state treasurer says ongoing legal challenges didn’t harm the sale of nearly $1.25 billion in high-speed rail bonds.

Spokesman Marc Lifsher says all the bonds were claimed Thursday and treasury officials are happy with the results.

He says there was wide participation by different sectors of the bond-buying market. The sale produced yields that would be expected under current market conditions.

The sale was broken into three offerings, with yields as high as about 2.4 percent and maturity dates as distant as 2047.

A Sacramento County judge is to rule next week on whether the California High Speed Rail Authority can now spend the bond money.

The lawsuit challenges legislation that opponents say goes beyond what California voters allowed when they approved nearly $10 billion in bonds in 2008.

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