http://news.yahoo.com/video/slip-39-...112829956.html
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Steven Boag had a special way of celebrating the annual Australian holiday Australia Day ? he set up a slip ?n? slide on his parents farm. In this video we can see people who joined Steven for his Australia Day party enjoying themselves by sliding down the huge water slide.
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I'd bet you would need several permits , then a license, then a huge insurance policy, safety crews standing by, those should cover why you couldn't do this in America ..