A crucial legal battle over funding for Project Connect kicks off Monday, but is expected to be stalled by a dispute over whether the case can even be heard.
Third Street would be the downtown backbone of the light-rail system. The tracks would pass directly in front of ATP's parking lot, shown in the bottom right.is likely to come to a screeching halt Monday just as it leaves the station. The central legal issue swirls around the unique funding mechanism devised to pay for the largest transit service expansion in Austin's history.
The legal action by ATP is known as a bond validation lawsuit. Bonds are a type of debt where government agencies lend money to investors with a promise the cash will be paid back with interest. "Even if you rule in our favor, this case will come to a screeching halt," Trahan said at the April hearing."It will be years before the merits of the case are ever reached."
The trial would essentially be frozen until a decision is made on whether ATP has the right to bring a lawsuit.
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