Florida Development Finance Corp.

Reps. Brian Mast and Bill Posey asked Transportation Secretary Elaine Chao not to extend a Dec. 31 deadline to issue private activity bonds.

The private passenger train project in Florida also faces new litigation from longtime adversary Indian River County.

Fitch Ratings said the BB-minus rating on Brightline’s $600 million of private activity bonds was removed because the project has changed strategic focus.

Florida agencies will negotiate with the private rail operator, currently known as Brightline, to build tracks for passenger service to Tampa.

The deal clears one legal obstacle to the upcoming issuance of PABs, although two other challengers plan to pursue a federal lawsuit.

The passenger train operation will rebrand as Virgin Trains USA after a small investment from Richard Branson's Virgin Group.

The Florida Development Finance Corp. will issue $1.75 billion of bonds for the privately owned passenger train project.

The Florida Development Finance Corp. will be asked to be the conduit issuer for $1.75 billion of PABs on behalf of the project's private owners.

A motion for summary judgment by Indian River and Martin counties contends that the privately owned project isn’t eligible to use the private activity bonds.

All Aboard Florida is seeking a right of way lease to expand its Brightline-branded passenger train service from Orlando to Tampa.

The U.S. Department of Transportation told All Aboard Florida that it now has until Dec. 31 to sell the $1.15 billion of bonds.

Facing a May 31 deadline to issue the $1.15 billion of PABs, All Aboard Florida asked the federal transportation agency for extra time to sell the debt.

Issuers across the Southeast sold $68.5 billion of bonds in 2017, a 5.8% year-over-year decrease.

Two Florida counties contend that environmental laws were violated when federal agencies allocated private activity bonds for the All Aboard Florida project.

A think tank supporting an intercity passenger train project in Florida condemned threatened lawsuits it says could delay the Brightline system.

The deaths of people who ignored railroad crossing warning lights and barriers triggered new calls for state and federal regulators to strengthen railroad safety laws.

The USDOT's approval of the allocation triggered threats from opponents that legal action will be taken.

Approval of the tax reform bill led the Florida Development Finance Corp. to cancel its Monday meeting to approve a deal for the train project.

Concerned about the tax bill before Congress, the private passenger train owners want to issue bonds by Dec. 31.

Municipal issuers continue to race to market with deals before the calendar turns over, as the tax bill may limit issuance in 2018.