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[QUOTE]Originally posted by Gilbert B Norman: [QB] [URL=http://www.mypalmbeachpost.com/business/state-group-weigh-billion-bond-request-for-brightline-project/fnIGOH9sspm2SrcpWDmN0J] The Cox Palm Beach Post[/URL] reports that AAF is looking to a State economic development agency, the [URL=https://www.fdfcbonds.com] Florida Development Finance Corporation [/URL], for the financing needed to complete the AAF project Sure seems like $600M, let alone $1.2B, is a bit more than this FDFC agency has chewed upon in the past. Review the list of recent projects they have been involved with and you'll see most have been within the NFP sector - and $8M is a "bigun" for them. The use of the term "Revenue Bonds" implies that there is no guarantor beyond the revenue that AAF - a subsidiary of a subsidiary - can generate. I guess they can oversee the issue of Private Activity Bonds under IRC Sec 141(a). Going to this agency seems to me a "grandstand play". If there is so much expectation :p :p that this venture will generate a fair return, then why hasn't parent company Softbank reached in to their pocket and pulled out some loose ¥. [/QB][/QUOTE]
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