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Prior to I-394, WPPSS had the authority to issue bonds without voter consent as a municipal corporation. [ 6 ] Just a few years later, with the failure of WPPSS to sell nearly US$961,000,000 (equivalent to $3,034,110,000 in 2023) in bonds to complete the project, WNP-3 was placed in an extended construction delay in July 1983 while nearly 76 ...
The next month, in July 1983, WPPSS defaulted on $2.25 billion of municipal bonds, [10] [11] which is the second largest municipal bond default in U.S. history. [3] The court case that followed took nearly a decade to resolve, and WPPSS acquired the nickname "Whoops" in the media. [1] [12] [13] [14]
Robert Brachtenbach wrote the majority opinion, in the famous WPPSS bond default case. The court ruled that Washington local governments lacked sufficient authority to commit to paying for the costs of two nuclear power plants built by an intergovernmental power authority if those municipalities did not receive power or if they did not have ...
Retrieved from "https://en.wikipedia.org/w/index.php?title=Washington_Public_Power_Supply_System&oldid=55392552"
Nuclear Implosions: The Rise and Fall of the Washington Public Power Supply System is a 2008 book by Daniel Pope, a history professor at the University of Oregon, which traces the history of the Washington Public Power Supply System, a public agency which undertook to build five large nuclear power plants, one of the most ambitious U.S. construction projects in the 1970s.
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The Site Certification Agreement was approved in 1975, with construction commencing on both units later that year. [5] Labor disputes at Hanford halted construction on WNP-1, -2 and -4 in 1980 and the forecast electric demand had failed to materialize, prompting WPPSS to install new management and re-evaluate the cost and schedule for all five nuclear projects. [6]
If you use a 3rd-party email app to access your AOL Mail account, you may need a special code to give that app permission to access your AOL account. Learn how to create and delete app passwords. Account Management · Apr 17, 2024