First Free Public Monorail Funded By Private Sector

Ground was broken earlier this month on the Las Vegas monorail, described asthe first public transportation system in the world to be funded entirely by the private sector. Financing was generated through tax-exemptnon-recourserevenue bonds tied to the farebox and advertising revenues. The $650millionLas Vegas Monorail Project is scheduled to enter revenue service inearly2004. The system could carry as many as 19 million passengers in itsfirstyear of operation. Starting from Tropicana Avenue the monorail will movepassengers along the Strip to Sahara Avenue. The monorail, which willuse adriverless version of the monorail cars that serve Disney World, willlinkeight hotels with the convention center. A trip will cost $2.50.