BOND BUYER story: Dismissing Train Suits 'Inequitable,' Florida Counties Argue

By: Shelly Sigo, Bond Buyer

BRADENTON, Fla. – With a privately owned passenger train service just months away from starting up in south Florida, its opponents told a federal judge it would be inequitable to dismiss their lawsuits because of a "backroom" deal over public financing for the project.

Indian River and Martin counties urged U.S. District Judge Christopher R. Cooper on Monday not to dismiss their lawsuits challenging the private activity bonds approved for the $3.5 billion project because of a recently employed financing strategy that leaves a portion of the project affecting their counties without tax-exempt financing...