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

[lentesta]

"Section 56. Pledge by the State of Florida to the Bond Holders of the District and to the Federal Government.-The State of Florida pledges to the holders of any bonds issued under this Act that it will not limit or alter the rights of the District to own, acquire, construct, reconstruct, improve, maintain, operate or furnish the projects or to levy and collect the taxes, assessments, rentals, rates, fees, tolls, fares and other charges provided for herein and to fulfill the terms of any agreement made with the holders of such bonds or other obligations, that it will not in any way impair the rights or remedies of the holders, and that it will not modify in any way the exemption from taxation provided in the Act, until all such bonds together with interest thereon, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged."

The part that will get Disney is in bold. It is the part that would simply force the State to enact some special tax on the businesses in the area (Disney) to cover the outstanding bonds to eliminate them. Disney's lawyers would be familiar with this language and know that if Florida decides to eliminate Reedy that it would end up costing Disney.

The first sentence of your quote is the state's promise to bond holders not to change RCID's ability to fulfill the terms of the bond.

Can you explain how dissolving the RCID does not conflict with that sentence?

 

[flynnibus]

Reedy Creek: Central Florida Lawmakers Say DeSantis is Exploring Creating, Controlling New "Lake Buena Vista District"

Walt Disney World news, photos, and reviews! We provide you with daily news from the Walt Disney World theme parks and beyond

blogmickey.com

I just can't get over these statements...

"According to Sen. Linda Stewart, DeSantis is planning on creating a new district called the Lake Buena Vista District to replace the Reedy Creek Improvement District. The new general government district would be controlled by DeSantis with appointments made by DeSantis"

 

[UNCgolf]

And what happens if bondholders terminate the contract, one might ask?

Well I don't think that's an option regarding bondholders -- I was just pointing out how contractual law functions in general. It's very difficult to make any change whatsoever to an existing contract without agreement from all parties.

 

[UNCgolf]

Making the new tax area identical in form wouldn't make it irrelevant because it would still eliminate Reedy Creek's little government and force Disney to use the local government when they wanted a road fixed or anything else the businesses outside the area have to do when they want changes to the infrastructure.

And please stop calling the RCID a contract it is an act that was done by the government. You could view the bonds Reedy has issued as contracts. I haven't looked at the language of the bonds but any bond issued by a sophisticated entity would have provisions for an early payoff as protection against changes in interest rates and other factors.

No one is calling the RCID a contract. The municipal bonds issued by RCID, however, ARE a contract.

As for your first point -- no, the new tax area would have to give the exact same government powers that RCID has now or it would violate the rights of the municipal bondholders. Their value is tied to RCID having certain rights and powers; it's not solely about taxation to service the debt.

 

[Brian]

Looking past the horrible source that is townhall.com

Sorry, would Slate.com or TheAtlantic.com be a better source for you?

Reedy Creek: Central Florida Lawmakers Say DeSantis is Exploring Creating, Controlling New "Lake Buena Vista District"

Walt Disney World news, photos, and reviews! We provide you with daily news from the Walt Disney World theme parks and beyond

blogmickey.com

I just can't get over these statements...

"According to Sen. Linda Stewart, DeSantis is planning on creating a new district called the Lake Buena Vista District to replace the Reedy Creek Improvement District. The new general government district would be controlled by DeSantis with appointments made by DeSantis"

So are we to take Stewart's statements made without evidence as Gospel truth, while DeSantis' statements made without evidence are somehow garbage?

Because I've been reliably informed on this thread that statements made without any evidence to back them up aren't even worth covering.

 

[UNCgolf]

Reedy Creek: Central Florida Lawmakers Say DeSantis is Exploring Creating, Controlling New "Lake Buena Vista District"

Walt Disney World news, photos, and reviews! We provide you with daily news from the Walt Disney World theme parks and beyond

blogmickey.com

I just can't get over these statements...

"According to Sen. Linda Stewart, DeSantis is planning on creating a new district called the Lake Buena Vista District to replace the Reedy Creek Improvement District. The new general government district would be controlled by DeSantis with appointments made by DeSantis"

So she wants to let DeSantis have his own personal fiefdom? That sounds totally acceptable and not at all ridiculous.

 

[Disstevefan1]

That's not PR. It's understanding the government structures set up here. Disney and RCID are very clearly two distinct and separate things. Each exerts considerable pressure on the other in different ways through different mechanisms.

It's like saying your household is the same as your local government. Technically, you voted for them and created direct influence by that vote. On the other side, they get mad if you live in a cesspool and create a local health hazard.

I'm assuming neither of you really want to comment on how (or how not) dissolving RCID would work and it's impacts, but are just trying to drive page counts for laughs.

Part of me thinks Disney should just walk away from RCID. That's probably the short sighted and spiteful part of me though.

In the technical sense, on paper RCID and WDW are two distinct and separate things.
In reality RCID = WDW. At the very least WDW controls RCID, like an employer, employee relationship.
We can agree to disagree.

 

[flynnibus]

Sorry, would Slate.com or TheAtlantic.com be a better source for you?

Sorry... 'what-about-ism' doesn't work on me. I don't entertain junk sources no matter what their lean is... They are junk because of their inaccuracies and poor reporting - not because of what agenda they push. I find most of the articles from those places junk too. Which is why I don't go there unless checking someone's source.

So are we to take Stewart's statements made without evidence as Gospel truth, while DeSantis' statements made without evidence are somehow garbage?

Did I say that? I thought it was obvious from the content that it was covering a news conference where a Senator was stating what they understood - not that it was some certainty. I shouldn't have to put extra framework around plainly obvious context.

 

[Brian]

Sorry... 'what-about-ism' doesn't work on me. I don't entertain junk sources no matter what their lean is... They are junk because of their inaccuracies and poor reporting - not because of what agenda they push.

Which is why I said it was an editorial. That is to differentiate it from an objective piece of news.

Did I say that? I thought it was obvious from the content that it was covering a news conference where a Senator was stating what they understood - not that it was some certainty. I shouldn't have to put extra framework around plainly obvious context.

Others on this thread would presumably disagree with you, but I trust they'll make their feelings known about the issue, since it couldn't possibly be the case that they would have a double standard when it's a Democrat making a baseless claim, could it?

 

[flynnibus]

Which is why I said it was an editorial. That is to differentiate it from an objective piece of news.

I'm not sure why you keep moving the goal posts - My retorts had nothing to do with any cover of editorial. And simply using a cover as editorial doesn't change the assertions the guy made. It's just a CYA. I don't care what you call it.. 'editorial', 'opinion' or 'from the scrolls of acrabar' - He's wrong.

Others on this thread would disagree with you, but I trust they'll make their feelings known about the issue, since it couldn't possibly be the case that they would have a double standard when it's a Democrat making a baseless claim, could it?

Dude... put down the party war hammer and just take information for what it is. Get over the party labels already.

If you think the senator is LYING about what they know.. just say it. Stop dancing around it and find a way to discredit it that is convincing.

 

[mikejs78]

In the technical sense, on paper RCID and WDW are two distinct and separate things.
In reality RCID = WDW. At the very least WDW controls RCID, like an employer, employee relationship.
We can agree to disagree.

We can agree to disagree about opinions, not facts.

Fact: Reedy Creek and Disney are legally completely separate entities.

Fact: Disney exherts some level of control on Reedy Creek through its elections.

You can't say that Reedy Creek is Disney or that it's akin to an employer/employee relationship, because it's not.

Others on this thread would disagree with you, but I trust they'll make their feelings known about the issue, since it couldn't possibly be the case that they would have a double standard when it's a Democrat making a baseless claim, could it

What baseless claims have been dismissed previously?

 

[Disstevefan1]

 

[mmascari]

So are we to take Stewart's statements made without evidence as Gospel truth, while DeSantis' statements made without evidence are somehow garbage?

Because I've been reliably informed on this thread that statements made without any evidence to back them up aren't even worth covering.

They're not the same. DeSantis said "I'm going to do something, I'll let you know." which is useless to know what it is, even if you take it at face value. While Stewart said "Here's the plan he's got" and then laid out some details. If you take them both at face value, the first was useless and the second lays out some actual plans.

Of course, it's possible that Stewart is floating a test of a plan, since it's not her plan. If it's received poorly, it could all be changed. Since it's not the plan, just a once removed that it's coming. If it's received well, it could become the plan even if it's not already the plan today.

At face value, the governor taking over a local government entity, replacing all the elected officials with governor appointed ones, and continuing to tax people the same way because they didn't' like what you said is some real creepy stuff. Even if you ignore that reason, there's no other reason given and it's just as creepy then.

 

[Disstevefan1]

This is my most favorite thread on these boards! I like it even better than trip reports

 

[lazyboy97o]

So she wants to let DeSantis have his own personal fiefdom? That sounds totally acceptable and not at all ridiculous.

“Limited government”

 

[mmascari]

In the technical sense, on paper RCID and WDW are two distinct and separate things.
In reality RCID = WDW. At the very least WDW controls RCID, like an employer, employee relationship.
We can agree to disagree.

Is that like when I tell the cop I pay his salary so he cannot give me a ticket?

 

[Brian]

What baseless claims have been dismissed previously?

DeSantis repeatedly said that he was going to work to ensure that the Orange/Osceola county taxpayers were not saddled with RCID's debt. My mere posting of that statement led to several complaints that there were no specifics (there weren't) and there was no evidence to backup that claim.

But now, here's Sen. Stewart, a Democrat, and nobody seems to take issue with her lack of evidence.

It is the same thing. You can't complain and delegitimize statements made by one side due to a lack of evidence while supporting and propping up the claims of (presumably) your own side when they do the same.

There is no evidence as of yet that DeSantis wants the RCID replacement to be comprised of his own appointees. Until there is, I think it would be appropriate to treat that claim with the same level of skepticism granted to the governor's claims.

 

[Disney Analyst]

Can these bozos do some ACTUAL work for the American people? This is freaking ridiculous.

 

[Disstevefan1]

Is that like when I tell the cop I pay his salary so he cannot give me a ticket?

No, it’s like when the cop pulls the car and realizes it’s their mom. “Just a warning this time mom. No mom, I won’t be late for dinner”

 

[flynnibus]

DeSantis repeatedly said that he was going to work to ensure that the Orange/Osceola county taxpayers were not saddled with RCID's debt. My mere posting of that statement led to several complaints that there were no specifics (there weren't) and there was no evidence to backup that claim.

But now, here's Sen. Stewart, a Democrat, and nobody seems to take issue with her lack of evidence.

I'm sorry it's difficult to tell why people might react differently to a statement promising FUTURES (and one that is conveniently LATE vs before acting [and contradictory]) vs a simple retelling of information.

Please stop painting this about GOP vs DEM - people are reacting to the MESSAGE NOT THEIR LABEL. Try it sometime... it helps alot.

If you think she's lying or untrustworthy. Just say it.. and it will be discussed if people feel something about it.

All people are doing is taking her statement as it is. One person's hersay.