Sure, but the DoT loan just gets you a lower rate. It really is a loan. The facility used was originally designed to finance short line improvements.

I didn't realize Amtrak has eminent domain powers? When have they used that?

www.joc.com/article/majo... Famously in the late 80s they took track from a freight railroad and gave it to another for better maintenance

Typical Guilford rail moment lol

I think most states give railroads eminent domain powers fwiw (but Amtrak gets it under federal law)

All states.

But yeah on top of that Amtrak has several overlapping federal authorities www.cga.ct.gov/PS95/rpt/olr...

Very infrequently used. The most famous case went to the Supreme Court; Amtrak was rep'd by then US Solicitor General, John Roberts

Government backing also means you don't need to secure it against assets. I really doubt Amtrak could go to the private market place without a DOT guarantee and sell bonds for interest rates that aren't usury

The purchase of Horizon rail cars was financed on the private market

That was 40 years ago?

Right, and afaik, was the first and only time they bought rail cars with private financing. So clearly they would rather have a shortage of rolling stock than do that again 😅