In an update to this story about the sinking Ark Park, we have more on the means to fund this Creationist boondoggle.
A planned amusement park in Grant County featuring a life-size Noah’s Ark is two years and millions of dollars behind schedule, but now it’s getting more civic help: a $62 million bond issue being offered by the city of Williamstown.
The city, which has already granted the project a 75 percent break in property taxes over 30 years, won’t have to repay the bonds, according to the bond-offering documents. That’s good, experts say, because the bonds are not rated, which makes them speculative, or “junk” bonds, said Gene Gard of Dupree Mutual Funds in Lexington.
The taxable bonds are backed by future revenues from the project, which organizers believe will attract more than 1 million visitors in the first year.
It was likened to “…a loan to a family member and not be as concerned about being paid back.” The success of bonds is contingent upon earnings of the facility upon completion.
Honestly!? With the Creation Museum’s numbers going downhill, WHY would any thinking person assume this will be an economic success? (Oh, wait…) In addition, the project may face a lawsuit because of the state subsides that violate the separation of church and state. This is UNDOUBTEDLY a religious-themed venture based on a Christian Bible myth. Finally, it makes Kentucky look like they are driving their pickup trucks right into stereotype land:
Dan Phelps, president of the Kentucky Paleontological Society, said he first became interested in the Ark Encounter project because he was concerned about the science that would be presented.
“The government has supposedly been trying to improve Kentucky’s image and education level, but at the same time they’re supporting a project that says all of modern science is a big lie,” he said. “They claim that Noah led dinosaurs on the Ark, but that’s just nonsense, there’s no other way to describe it.”
In a radio ad posted on YouTube titled “What Really Happened to the Dinosaurs?” Ken Ham disputes the fossil record of dinosaurs.