Disney says Reedy Creek Improvement District cannot be dissolved until the state pays off it's debt

[JimH52]

Disney's self-governing district says Florida cannot dissolve it without paying off its debts | CNN

Disney's self-governing special district, the Reedy Creek Improvement District, says that Florida's move to dissolve the district next year is not legal unless the state pays off Reedy Creek's extensive debts.

www.cnn.com

Sounds like desantis has to come up with 1 Billion dollars to pay off the outstanding debt that is owed to Disney. I guess that is one item that Little trump missed in the agreement details. Oooopppsss

 

[Bootney Lee Farnsworth]

Disney's self-governing district says Florida cannot dissolve it without paying off its debts | CNN

Disney's self-governing special district, the Reedy Creek Improvement District, says that Florida's move to dissolve the district next year is not legal unless the state pays off Reedy Creek's extensive debts.

www.cnn.com

Sounds like desantis has to come up with 1 Billion dollars to pay off the outstanding debt that is owed to Disney. I guess that is one item that Little trump missed in the agreement details. Oooopppsss

View attachment 637092​

Sounds like a built-in poison pill that will be immediately shot down on the grounds of sovereign immunity.

 

[marvin martian]

Disney's self-governing district says Florida cannot dissolve it without paying off its debts | CNN

Disney's self-governing special district, the Reedy Creek Improvement District, says that Florida's move to dissolve the district next year is not legal unless the state pays off Reedy Creek's extensive debts.

www.cnn.com

Sounds like desantis has to come up with 1 Billion dollars to pay off the outstanding debt that is owed to Disney. I guess that is one item that Little trump missed in the agreement details. Oooopppsss

View attachment 637092​

^^^Look at the lefty corporate whores slutting it up for the billionaires.

LOL

 

[Winston]

Sounds like a built-in poison pill that will be immediately shot down on the grounds of sovereign immunity.

You didn't read the article, the state agreed to the terms. As if Florida would shit on all those bondholders, DeSantis is a flippin idiot.

 

[Oddball]

XiNN....

 

[rightwinger]

Disney's self-governing district says Florida cannot dissolve it without paying off its debts | CNN

Disney's self-governing special district, the Reedy Creek Improvement District, says that Florida's move to dissolve the district next year is not legal unless the state pays off Reedy Creek's extensive debts.

www.cnn.com

Sounds like desantis has to come up with 1 Billion dollars to pay off the outstanding debt that is owed to Disney. I guess that is one item that Little trump missed in the agreement details. Oooopppsss

View attachment 637092​

Why doesn’t DeSantis just pay the debt so he can stick it to Disney ?

 

[JimH52]

Why doesn’t DeSantis just pay the debt so he can stick it to Disney ?

It might max out his credit card....

 

[Dekster]

Disney's self-governing district says Florida cannot dissolve it without paying off its debts | CNN

Disney's self-governing special district, the Reedy Creek Improvement District, says that Florida's move to dissolve the district next year is not legal unless the state pays off Reedy Creek's extensive debts.

www.cnn.com

Sounds like desantis has to come up with 1 Billion dollars to pay off the outstanding debt that is owed to Disney. I guess that is one item that Little trump missed in the agreement details. Oooopppsss

View attachment 637092​

That's part of it. The other shoe the conservatives shot themselves in the foot with is that Reedy Creek has a special tax status. While people assumed this meant Disney paid less taxes, it really meant they paid about triple the local taxes into the special district. Dissolving the district will mean that Disney will now have to pay one-third of its current property taxes as once it is consolidated into the county, that whole county is capped at the state max local tax.

 

[JimH52]

You didn't read the article, the state agreed to the terms. As if Florida would shit on all those bondholders, DeSantis is a flippin idiot.

Sounds pretty iron clad to me. Maybe Ronnie can max out his credit card and pay the $1,000,000,000?

 

[marvin martian]

Why doesn’t DeSantis just pay the debt so he can stick it to Disney ?

Your billionaire betters at Disney are going to pay the debt when their property taxes and infrastructure fees quadruple.

 

[Harry Dresden]

It might max out his credit card....

a billion dollar limit?.....dam that guy is rich....

 

[PinktheFloyd88]

3rd topic on this.

Seems that Reedy Creek is safe until at least 2029

This is what happens when you craft a bill in two days and pass it out of spite. https://news.bloomberglaw.com/us-law-week/the-contractual-impossibility-of-unwinding-disneys-reedy-creek “In authorizing Reedy Creek to issue bonds, the Florida legislature included a remarkable...

www.usmessageboard.com

Ron DeSsntis War On Disney About To Hit A Major Snag

Much ado has been made about the legality of Florida’s Senate Bill 4Cpurporting to dissolve Disney’s Reedy Creek Improvement District: whether it was retaliation prohibited by the First Amendment, whether it was passed with sufficient formality, and so on," wrote Schumer. "But there’s a much...

www.usmessageboard.com

 

[rightwinger]

The new law is just two pages long and avoids any discussion of details about how to unwind a half-century of infrastructure deals, nor does it lay out the next steps in the complicated process. Lawmakers in neighboring Orange and Osceola counties have expressed concerns that they will be stuck with paying off Reedy Creek's debts and will have to significantly raise property taxes on residents.

Nice Legislation Republicans

 

[Polishprince]

The state should just put a special tax on Disney and collect the money to pay the debt.

A 25% surtax on amusement parks owned by Dow Jones Industrial corporations could raise the money easily.

 

[rightwinger]

The state should just put a special tax on Disney and collect the money to pay the debt.

A 25% surtax on amusement parks owned by Dow Jones Industrial corporations could raise the money easily.

You can’t selectively tax

Florida signed an agreement
They are bound by its terms

 

[Bootney Lee Farnsworth]

That's part of it. The other shoe the conservatives shot themselves in the foot with is that Reedy Creek has a special tax status. While people assumed this meant Disney paid less taxes, it really meant they paid about triple the local taxes into the special district. Dissolving the district will mean that Disney will now have to pay one-third of its current property taxes as once it is consolidated into the county, that whole county is capped at the state max local tax.

Which means that Disney no longer gets to pump money into that one area, KEEP it, and write it off.

 

[Turtlesoup]

Disney's self-governing district says Florida cannot dissolve it without paying off its debts | CNN

Disney's self-governing special district, the Reedy Creek Improvement District, says that Florida's move to dissolve the district next year is not legal unless the state pays off Reedy Creek's extensive debts.

www.cnn.com

Sounds like desantis has to come up with 1 Billion dollars to pay off the outstanding debt that is owed to Disney. I guess that is one item that Little trump missed in the agreement details. Oooopppsss

View attachment 637092​

Since when does the government have to pay off a citizens debt to seize their property?

 

[DigitalDrifter]

Already threads on this.

 

[Polishprince]

You can’t selectively tax

Florida signed an agreement
They are bound by its terms

Sure you can. A lot of states selectively tax individuals, and not everyone pays the same.

you can do the same with corporations.

 

[JimH52]

The new law is just two pages long and avoids any discussion of details about how to unwind a half-century of infrastructure deals, nor does it lay out the next steps in the complicated process. Lawmakers in neighboring Orange and Osceola counties have expressed concerns that they will be stuck with paying off Reedy Creek's debts and will have to significantly raise property taxes on residents.

Nice Legislation Republicans

Well, learning disabilities are hard to overcome. Bless Their Hearts...