Contracts can be changed by mutual agreement by both parties.
Contracts can be transferred.
Contracts (generally) survive when someone dies. Effectively, RCID is "dying", with its inheritors being Orange and Osceola Counties.
Is the State of Florida allowed to transfer RCID bonds to the governing bodies that replace it?
I'll say it again, this time a little differently. It doesn't matter what you and I think. What matters is what the members of the Florida Supreme Court think.
At least until RCID decides to appeal any decision to federal courts.
With this in mind, what's your opinion of the Florida Supreme Court?