BREAKING NEWS: BRIGHTLINE WANTS MORE TIME TO ISSUE NEXT BOND DEAL

Publish Date: 
Thursday, December 13, 2018 - 11:00am

BREAKING NEWS: OWNERS OF THE BRIGHTLINE HIGH-SPEED PASSENGER TRAIN HAVE REQUESTED MORE TIME TO ISSUE $1.15 BILLION OF BONDS, a federal agency said Wednesday. They currently have until Dec. 31 to issue said bonds to finance their second phase from West Palm Beach to Orlando.

The committee that reviews PAB allocations will consider Brightline's request next week, stated USDOT's Director of Public Affairs Marianne McInerney.

Meanwhile, Indian River County has initiated another dispute, pressing that All Aboard Florida should pay for all improvements and maintenance at crossings. The Indian River County has estimated that these improvements would cost $8.2 million through 2030.

"It's become clear that Brightline believes that they can force the county to pay for the installation and the maintenance of the safety improvements at the crossings that are needed for their project," County Attorney Dylan Reingold stated. "This is not OK."

U.S. District Court Judge Christopher Cooper is considering the county's motion to block Brightline from issuing the $1.15 billion of PABS. Judge Cooper has stated he will issue a ruling by Dec. 31.

Read more here.

Original Article was written by Shelly Sigo of the Bond Buyer.