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[QUOTE]Originally posted by Gilbert B Norman: [QB] The Poole report indeed makes interesting reading, but lest we forget, any issue of Private Activity Bonds represents a subsidy from the public trough by grace of the exemption from Federal Income taxation under IRC Sec 141(a) et seq. Allow.me to point out that there is no "full faith" provisions associated with PAB's - only the revenue stream from the project. Where those bonds will stand in the "pecking order" in a bankruptcy proceeding is the prerogative of "da Judge". I find that the Post's reader comments to be quite mature (so far). But at this time, one must acknowledge that not one spade of earth has yet to be turned anywhere North of WPB. Building 40 miles of new road along the Bee Line Cocoa to Orlando, had best be underway if the 2019 date is to be met. If the full route becomes a "service to begin on a date to be announced", then I'm at a loss to know how a MIA-WPB premium express train service will ever make it. At such time that flops, the FEC will have made improvements to their "Gold Coast" lime enabling better capacity to handle the surge of traffic from the Ports in the Neo-PANAMAX age the soothsayers foresee. [/QB][/QUOTE]
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