Company says regardless of bond vote, All Aboard Florida will move forward

Indian River and Martin Counties have filed federal lawsuits trying to block the award of private activity bonds, which are scheduled to be discussed, and possibly voted on, during a meeting May 28 of the Florida Development Finance Corp. (Source: The Palm Beach Post)

 

The Palm Beach Post reports that All Aboard Florida’s express passenger rail line will move forward regardless of whether it receives $1.75 billion in tax exempt bonds, according to court documents filed Monday.

In opposition to Indian River County’s federal lawsuit (see copy of lawsuit here: http://www.mypalmbeachpost.com/documents/2015/apr/01/indian-river-county-lawsuit-re-all-aboard-florida/) to stop the issuance of the private activity bonds, All Aboard Florida officials filed a 40-page brief saying that denying the bonds will not prevent the improvement of the rail system for passenger trains.

For the complete story: http://realtime.blog.palmbeachpost.com/2015/05/13/all-aboard-florida-will-move-forward-regardless-of-bond-vote-company-says/

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