Overview
Stephen Ryan said that the All-Aboard Florida rail project, whose opponents he represents, “is blowing up its finance plan” to avoid legal challenges to its tax-exempt bonds. “We know that when All-Aboard Florida got the bonds in 2015, they failed four times to sell them,” Mr. Ryan said. “They’ve been able to sell the bonds, but the dogs are not eating the dog food. That is, the bond-buying community has looked at the project, but didn’t want to make that investment.”