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Will Brightline passenger train survive as counties try to choke off funding?

JULY 31, 2018 | by Ann Feltgen | FLORIDA BULLDOG

 “…The judge is expected to rule on Aug. 18. The 66-page document states that issuing the public activity bonds – tax-exempt bonds issued by governments to provide special financing benefits for qualified projects – would be illegal because the project is not eligible for the bonds and because the counties did not approve the project, as is required by the Internal Revenue Code. … 'They only have $59,000 in unrestricted cash and their restricted cash barely equals their current liabilities,' Solari said. 'It appears that they badly need the second bond issue within the next six months' to survive.”

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