Florida Train Targets June 8 for $1.75B Bond Sale

Overview


Stephen Ryan, who represents Martin County, Florida in the first litigation to contest a federal private activity bond (PAB) allocation regarding the record PAB financing for All Aboard Florida, sought to expedite part of the county’s case because it alleges that the Department of Transportation granted All Aboard a PAB allocation not authorized by statute. Mr. Ryan suggested achieving an expedited hearing by rescheduling a Florida Development Finance Corporation hearing on the bonds, which he called “a kangaroo proceeding.”