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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.
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 ...
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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]
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