"Transpark" Update

« Latest News

"Transpark" Update  Posted: February 26, 2002

Re: Warren County Intermodal "Transpark" Update

By a vote of 6-0, with the Attorney General's office "passing," the County Debt Commission again upheld the recommendations of the hearing officer to approve the request by Warren County and the Intermodal Transportation Authority for approval to issue 25$ million dollars in first mortgage revenue bonds and notes to support construction of a controversial industrial park and new airport in the fragile karst terrain near Mammoth Cave National Park. Joey Roberts of Smith's Grove, had appealed the decision approving the bond and note issuance, challenging the feasibility of a project that proposed to retire the debt service on the bonds and notes solely through the sale of developed land, and which failed to fully consider the costs and environmental consequences of the proposed industrial park.

The decision of the County Debt Commission follows an earlier decision by that Commission, at which time the Commission refused to consider the exceptions filed by Roberts. The Franklin Circuit Court remanded the case to the Commission directing that the exceptions be considered.

With the decision by the Commission, the case again returns to the Franklin Circuit Court, which will hear Roberts pending appeal on the merits. Meanwhile, despite the fact that the Federal Aviation Administration has called for a risk assessment to determine if the project is feasible, the Intermodal Transportation Authority has begun acquisition of land in the proposed project area using money borrowed against the hope that the bond issue approval will eventually be upheld

By Kentucky Resources Council on 02/26/2002 5:32 PM
« Latest News