Chip Chipperson
Well-Known Member
Since RCID was created exclusively for TWDC and to the benefit of TWDC for the management of the its land, it will be interesting to see in all this legal wrangling what obligations evolve for TWDC toward the RCID bond holders.
None. These are municipal bonds. The only tangible connection to WDW is the fact that they are the largest taxpayer in the District - and as a giant corporation with a very small chance of going belly-up in the near future, they would be viewed as a positive for the District (whereas high taxpayer concentration would normally be a negative for a municipality issuing debt). A corporation cannot take on the liability of municipal debt. That would be altering the contract and you can't do that once the bonds are issued.
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