GoofGoof
Premium Member
I wonder at this point if the Governor doesn’t pivot back to trying to permanently dissolve the district and/or dissolve and replace with a new district. Since all they did is rename the existing district and change its board the existing contracts remain in place and so far I‘ve only seen “hail marry“ arguments (unlikely to work) to invalidate that contract. If the district is dissolved, most of the contracts are dissolved with it. Then either a new district is created to replace it or the services go to the counties. That would also go back to getting a ”political win“ since the Governor has taken a lot of bad press for giving in and letting Disney keep its ”tax break”.
There is still an issue with the bonds and especially the ones that don’t allow early redemption, but I’m sure with the rise in interest rates the bond holders would be glad to voluntarily dump those bonds if paid full par for them. They have to be valued below 100% at this point. I would also assume the district could ramp up payments to pay off the bonds as soon as possible. It may still take several years but they could be gone before Ronnie leaves office so he can complete his punishment.
There is still an issue with the bonds and especially the ones that don’t allow early redemption, but I’m sure with the rise in interest rates the bond holders would be glad to voluntarily dump those bonds if paid full par for them. They have to be valued below 100% at this point. I would also assume the district could ramp up payments to pay off the bonds as soon as possible. It may still take several years but they could be gone before Ronnie leaves office so he can complete his punishment.