The courts backed All Aboard Florida and knocked down Martin and Indian River Counties attempts to block the high speed train company’s ability to sell 1.75-billion dollars in bonds.
US District Court Judge Christopher Cooper in Washington DC issued a 21-page ruling, claiming that the counties stumbled in their efforts to show that their lawsuit was valid, and said the counties never proved that temporarily halting the bonds would significantly increase the chance that All Aboard Florida would abandon the project.
Martin County’s attorney Steven Ryan responded to the ruling by saying this was just the first legal skirmish, and they will continue to fight.
All Aboard Florida says they plan to begin selling the bonds on June 22nd, even though the Florida Development Finance Corporation still hasn’t given their final approval.
The FDFC Board canceled a meeting yesterday in Orlando, and it’s unclear when they will hold the meeting to approve the bonds.