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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]
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 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]
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.
Overly optimistic estimates of future electricity consumption by BPA in the 1960s led the agency to guarantee some bonds for the disastrous Washington Public Power Supply System nuclear power project. Out of five nuclear power plants started (WNP-1 and WNP-4, WNP-3 and WNP-5), only WNP-2 was completed. BPA is still making payments on three of ...
WPPSS defaulted on $2.25 billion in bonds resulting in payments that exceeded $12,000 per customer, an amount which was finally paid out in 1992 (10 years later).
Ratings agency Fitch said Wednesday that “a default or a default-like process has begun” because Russia missed a March 2 payment to foreign investors, such as funds that invest in emerging ...
The default username and password are usually found in the instruction manual (common for all devices) or on the device itself. [citation needed] Default passwords are one of the major contributing factors to large-scale compromises of home routers. [1] Leaving such a password on devices available to the public is a major security risk.