LOS ANGELES--Orange County, Calif., transportation officials are poised to sell an estimated $300 million bond issue secured by sales tax revenues after the state Supreme Court's rejection last week of a challenge to the tax.

In a 6-to-1 decision, the high court Thursday let stand an earlier appellate court ruling upholding the constitutionality of Measure M, a half-cent sales tax for transportation purposes approved by a majority of Orange County voters in 1990.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.