This apparently impending financial embarrassment was predicted in our 2000 Public Purpose report on the Las Vegas Monorailbefore the bonds were issued. The problem, as we predicted, is that ridership has fallen far short of projections, which is a fairly standard occurance with respect to large transit infrastructure projects.
Las Vegas Review Journal Article
Las Vegas Monorail: Bond Default Imminent?
Las Vegas Monorail: Bond Default Inevitable?