News Reedy Creek Improvement District and the Central Florida Tourism Oversight District

[JoeCamel]

Well in this case, TWDC will for sure avoid paying these!
Besides TWDC always working for Now and today, pushing off paying for anything as long as possible. In this case they deferred their way into avoiding payment all together

Don't think that will happen, the bonds will be paid by the issuer on time with interest

 

[CAV]

The local Floridian doesn’t pay income tax because of the tourist industry.

No Floridian pays income taxes.

 

[peter11435]

Don't think that will happen, the bonds will be paid by the issuer on time with interest

How can the issuer pay if the issuer does not exist?

 

[JoeCamel]

How can the issuer pay if the issuer does not exist?

The issuer is not going away, in the event of default the insurer would pay in the issuers name

 

[peter11435]

The issuer is not going away, in the event of default the insurer would pay in the issuers name

Unless something changes the issuer is going away.

 

[JoeCamel]

Unless something changes the issuer is going away.

Something will change

 

[peter11435]

Something will change

Maybe. Maybe even probably. But that’s not a guarantee.

And even if RCID continues to exist; modifications to its charter may have an impact on its ability to pay back those bonds.

 

[JoeCamel]

Maybe. Maybe even probably. But that’s not a guarantee.

And even if RCID continues to exist; modifications to its charter may have an impact on its ability to pay back those bonds.

If that happens the insurer pays and sues for redress

 

[peter11435]

If that happens the insurer pays and sues for redress

That’s not exactly how that works. And who do you think they would sue?

 

[JoeCamel]

That’s not exactly how that works. And who do you think they would sue?

You are being pedantic

 

[peter11435]

You are being pedantic

No, this is important. These details have huge significance and you truly don’t seem to understand how this all works. Just saying someone will pay without acknowledging who or with what funds is pointless.

 

[Prince-1]

The Prince has spoken. Guess im definitely wrong backed with zero evidence

I mean you have no evidence either to support whatever nonsense you are spewing. And even though I have never had any posts deleted on the political thread, and don't let The Mom tell you otherwise, I know it happened very frequently to people on both sides of the isle. And it's ok Bob, you aren't that special on here where your posts won't be deleted when you break the forum rules. Happens to everyone.

And thanks for addressing me by my Royal Title. I do appreciate the respect.

 

[lazyboy97o]

How is preventing a single entity from engaging in functions other similar entities can engage in a good policy? How is that not a set up for a challenge?

 

[JoeCamel]

No, this is important. These details have huge significance and you truly don’t seem to understand how this all works. Just saying someone will pay without acknowledging who or with what funds is pointless.

Saying the sky will fall and everyone will get stuck with the bill is just as pointless. The bond holders will be paid, who will pay is immaterial. The doom scenarios are out in left field

 

[Tony the Tigger]

No Floridian pays income taxes.

Correct.

 

[lazyboy97o]

Quoting something I wrote a couple of months ago:

DeSantis wants a show win.

Disney wants a real win.

There's a deal to be made here.

Curtailing the District in real ways is not a real win.

Nuclear power is allowed in Florida. The District already has offsite power generating facilities. Not allowing the District to engage in nuclear power means that even in the future they can’t do something like buy into a reactor at one of the existing private nuclear power plants in the state. Just because it seems a long shot and isn’t in the plan now, the District being the sole utility provider not allowed to do something that may be favored by the state is a loss.

A number of companies are working on a variety of flying taxi like vehicles and services. Not being able to even consider again offering something like the STOLport is a loss.

Having to pay people who don’t really do anything and are not necessary for the process, is an ongoing financial loss, even if small.

What is being discussed is not a real win for Disney, it is a real material loss. Just repeatedly demanding it be called a win and a compromise does not mean these plans actually meet that criteria.

 

[lazyboy97o]

Saying the sky will fall and everyone will get stuck with the bill is just as pointless. The bond holders will be paid, who will pay is immaterial. The doom scenarios are out in left field

The issue of who pays is the doom scenario.

 

[LAKid53]

No Floridian pays income taxes.

Individuals don't, but corporations do.

 

[LAKid53]

You are being pedantic

No, he's making a valid point. Who would get sued in the situation of a default on the municipal bonds and the insurer pays out? The state will claim sovereign immunity. If RCID is legislated out of existence, there's no entity left.

Provided there IS an insurer.... government is self-insured, i.e., has the power to tax. And any state ordered compensation via the courts will need Legislature approval beyond a statutory maximum. And I can guarantee members of the Legislature know this.

RCID won't "go away". It will be restructured in some form which will be determined by whatever legislation the Legislature passes in the upcoming 2023 session. Committees are due to return to Tallahassee soon to start discussing bills. And the governor's proposed budget is due at the end of the year.

 

[LAKid53]

Saying the sky will fall and everyone will get stuck with the bill is just as pointless. The bond holders will be paid, who will pay is immaterial. The doom scenarios are out in left field

Who will be responsible for paying the bonds IS important, especially for us property tax payers in Orange County. Oh, and every single Florida resident.