Mainecat Posted April 21, 2022 Share Posted April 21, 2022 Disney's Debt is about to Be Central Florida Taxpayers' Problem On Wednesday, the Florida Senate voted 23 to 16 to eliminate the Reedy Creek Improvement District, dealing a major blow to Disney and by extension, taxpayers in Central Florida. The district has about a billion dollars in outstanding bonds that need to be dealt with. That burden, as state lawmakers admitted, will fall on local taxpayers. “The procedures that we have will transfer that indebtedness to the general-purpose local governments,” said Sen. Jennifer Bradley (R–Clay County), the bill’s sponsor in the Florida Senate. The billion dollars in bonds that Reedy Creek holds will mature as late as 2036. About 20% are revenue bonds, which will be backed by payments for services like utilities. The remaining 80% are general obligation bonds, backed by faith and credit in the district, which is on the verge of dissolution. “Those are issued to creditors on the promise that the district will continue to exist and will be able to pay those obligations, of course, state law says that those bonds will be assumed by the counties but just because state law says that you really must dig in to see what is in those agreements,” said Joe Bishop-Henchman, vice president of policy at the National Taxpayers Union. “You don’t really know what’s in the fine print of all of these agreements.” In 2008 when AIG went out of business, its bonds had to be paid immediately. The bonds that were taken out by Reedy Creek could be the same, and if so, that payment would fall on the county. “If Reedy Creek goes away, the $105 million it collects to operate services goes away,” wrote Orange County Tax Collector Scott Randolph. “That doesn’t just transfer to Orange County because it’s an independent taxing district. However, Orange County then inherits all debt and obligations with no extra funds.” Under state law, Orange County is not allowed to tax Disney extra unless it creates a new special district for Disney. However, to do this, the county would need the property owners inside of Disney (the company) to agree to take back the debt. If the bond debt falls on Orange County, residents can expect to acquire between $2,200 to $2,800 in extra debt for a family of four. We will see what a great idea owning the Libs and Disney is if these people are on the hook for a chunk of Disney tax money. https://www.msn.com/en-us/travel/news/disney-s-debt-is-about-to-be-central-florida-taxpayers-problem/ar-AAWpBmJ?ocid=msedgdhp&pc=U531&cvid=a57dd3e1dba6416f91d5a2c140885924A Quote Link to comment Share on other sites More sharing options...
Gold Member Kivalo Posted April 21, 2022 Gold Member Share Posted April 21, 2022 This kinda shit is why elected asshole should not be allowed to take private $$ from corporations or unions and the like. Too much influence is outright purchased and we the people who foot the bill take it right up the ass. 1 Quote Link to comment Share on other sites More sharing options...
Badger** Posted April 21, 2022 Share Posted April 21, 2022 Florida Senate passes bill stripping Disney of special self-governing power https://www.foxnews.com/politics/bill-stripping-disney-of-special-self-governing-power-passes-florida-senate?cmpid=fb_fnc&fbclid=IwAR2piWJ-a6Q32_y1Lo_Sdw1iVB_G_BZOe3OVn7_FZqXuRJn4lrj56fRQ85U Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted April 21, 2022 Gold Member Share Posted April 21, 2022 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 21, 2022 Share Posted April 21, 2022 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 21, 2022 Author Share Posted April 21, 2022 Gay Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 21, 2022 Share Posted April 21, 2022 Ahahahaha.....just take whatever MC is babbling about and assume the opposite and you’ll never be wrong again 2 2 Quote Link to comment Share on other sites More sharing options...
Rod Posted April 21, 2022 Share Posted April 21, 2022 17 minutes ago, f7ben said: Ahahahaha.....just take whatever MC is babbling about and assume the opposite and you’ll never be wrong again That’s my word Quote Link to comment Share on other sites More sharing options...
Anler Posted April 21, 2022 Share Posted April 21, 2022 Send the bill to boca Raton! Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 21, 2022 Share Posted April 21, 2022 1 hour ago, Anler said: Send the bill to boca Raton! I ordered a Webasto heater kit last week. Came from Russia via BR. Got an excellent deal. $700 off the American version. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted April 21, 2022 Platinum Contributing Member Share Posted April 21, 2022 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 21, 2022 Author Share Posted April 21, 2022 11 hours ago, f7ben said: Ahahahaha.....just take whatever MC is babbling about and assume the opposite and you’ll never be wrong again Your tall and handsome. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 21, 2022 Author Share Posted April 21, 2022 Ownin the libs….lol Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 21, 2022 Share Posted April 21, 2022 1 minute ago, Mainecat said: Your tall and handsome. Yore!!! Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 21, 2022 Author Share Posted April 21, 2022 2 hours ago, f7ben said: Yore!!! Ownin the Bens 24/7 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 21, 2022 Platinum Contributing Member Share Posted April 21, 2022 15 hours ago, Mainecat said: Disney's Debt is about to Be Central Florida Taxpayers' Problem On Wednesday, the Florida Senate voted 23 to 16 to eliminate the Reedy Creek Improvement District, dealing a major blow to Disney and by extension, taxpayers in Central Florida. The district has about a billion dollars in outstanding bonds that need to be dealt with. That burden, as state lawmakers admitted, will fall on local taxpayers. “The procedures that we have will transfer that indebtedness to the general-purpose local governments,” said Sen. Jennifer Bradley (R–Clay County), the bill’s sponsor in the Florida Senate. The billion dollars in bonds that Reedy Creek holds will mature as late as 2036. About 20% are revenue bonds, which will be backed by payments for services like utilities. The remaining 80% are general obligation bonds, backed by faith and credit in the district, which is on the verge of dissolution. “Those are issued to creditors on the promise that the district will continue to exist and will be able to pay those obligations, of course, state law says that those bonds will be assumed by the counties but just because state law says that you really must dig in to see what is in those agreements,” said Joe Bishop-Henchman, vice president of policy at the National Taxpayers Union. “You don’t really know what’s in the fine print of all of these agreements.” In 2008 when AIG went out of business, its bonds had to be paid immediately. The bonds that were taken out by Reedy Creek could be the same, and if so, that payment would fall on the county. “If Reedy Creek goes away, the $105 million it collects to operate services goes away,” wrote Orange County Tax Collector Scott Randolph. “That doesn’t just transfer to Orange County because it’s an independent taxing district. However, Orange County then inherits all debt and obligations with no extra funds.” Under state law, Orange County is not allowed to tax Disney extra unless it creates a new special district for Disney. However, to do this, the county would need the property owners inside of Disney (the company) to agree to take back the debt. If the bond debt falls on Orange County, residents can expect to acquire between $2,200 to $2,800 in extra debt for a family of four. We will see what a great idea owning the Libs and Disney is if these people are on the hook for a chunk of Disney tax money. https://www.msn.com/en-us/travel/news/disney-s-debt-is-about-to-be-central-florida-taxpayers-problem/ar-AAWpBmJ?ocid=msedgdhp&pc=U531&cvid=a57dd3e1dba6416f91d5a2c140885924A Good!!! Central Florida (Orlando) is full of liberals. 2 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 21, 2022 Author Share Posted April 21, 2022 1 hour ago, Highmark said: Good!!! Central Florida (Orlando) is full of liberals. Divide divide divide. Quote Link to comment Share on other sites More sharing options...
Mag6240 Posted April 21, 2022 Share Posted April 21, 2022 Florida Legislature votes to strip Disney self-government - KSTP.com Eyewitness News Funny how they wait until the last paragraph of the article to point out all this money and free land was given with the incentive of creating a city - that simply went to another theme park. The creation of the Reedy Creek Improvement District, and the control it gave Disney over 27,000 acres (11,000 hectares) in Florida, was a crucial element in the company’s plans to build near Orlando in the 1960s. Company officials said they needed autonomy to plan a futuristic city along with the theme park. The city never materialized, however; instead, it morphed into the Epcot theme park. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted April 21, 2022 Platinum Contributing Member Share Posted April 21, 2022 29 minutes ago, Mainecat said: Divide divide divide. Yes the liberal sided Disney wanted to run a business with different rules than other floridians. now that's division. 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 21, 2022 Share Posted April 21, 2022 2 hours ago, Highmark said: Good!!! Central Florida (Orlando) is full of liberals. not really- central FL as a whole is pretty conservative. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 21, 2022 Share Posted April 21, 2022 34 minutes ago, Angry ginger said: not really- central FL as a whole is pretty conservative. Most of the state is supported by boomers in the latter stage of their lives. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted April 21, 2022 Platinum Contributing Member Share Posted April 21, 2022 1 hour ago, Angry ginger said: not really- central FL as a whole is pretty conservative. Wrong. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 21, 2022 Share Posted April 21, 2022 The citizens of Florida should have their taxes raised rather than living off of Disney. Quote Link to comment Share on other sites More sharing options...
Voodoo Posted April 21, 2022 Share Posted April 21, 2022 54 minutes ago, Steve753 said: Wrong. That could be transposed onto many states and Canadian provinces. High density urban centers lean left, rural areas lean right. One person one vote means there are minor swings at most. I've heard certain states, including Florida are redrawing district lines to benefit one party or the other. Blue states for Dems, red states like Florida doe the Repubs. Any validity to that? Quote Link to comment Share on other sites More sharing options...
Cold War Posted April 21, 2022 Share Posted April 21, 2022 3 hours ago, Steve753 said: Wrong. He don’t fucking know anything about Florida, other than what is posted on liberal jack off sites. Quote Link to comment Share on other sites More sharing options...
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