Florida Legislature votes to strip Disney self-government

[Kamaji]

Okay Karen. 

  just asking questions.  Don’t see why that merits an insult.

[Wingnut]

  just asking questions.  Don’t see why that merits an insult.

Of course you wouldn't.

[Kamaji]

Of course you wouldn't.

And neither would anyone with at least half a brain.

[Wingnut]

And neither would anyone with at least half a brain.

Which half do you have left? 

[libertybele]

Which half do you have left?

 

[Kamaji]

Which half do you have left? 

Certainly more than you.

[Wingnut]

Certainly more than you.

Don't try to have a tinkle contest with a skunk. You will lose.

[corbe]

    DeSantis I believe to be the real thing, so far.  Again, the GOP finds itself at the Crossroads.


https://www.youtube.com/watch?v=PNWnD4jW974

[Cyber Liberty]

 

[corbe]

   There's a vaccine for that now, just sayin'.

[Ghost Bear]

According to the 2021 Annual Report for the Reedy Creek district - https://www.rcid.org/document/2021-rcid-annual-financial-report/ - the district had total liabilities relating to "governmental activities" of $897,711,050, which is pretty close to $1B, and total liabilities relating to "business-related activities" of $229,617,766.

It seems to me that those debts have to follow the assets, and end up on the county's balance sheet at the end of the day; certainly the government-related debts.

From what I have heard, a lot of that debt is in the form of private bonds issued by Disney. If so, then as bonds issued by a private entity (the Disney corporation), I believe Disney remains on the hook for paying off those bonds. But I am not an expert.

[Smokin Joe]

"Democrats in the Florida House of Representatives can be heard yelling & shrieking after lawmakers voted to remove Disney’s special tax status—a privilege it held for 55 years. Disney employs 38 lobbyists in Tallahassee & donates generously to politicians."  (Video)

https://mobile.twitter.com/MrAndyNgo/status/1517203394699702272

Waitaminute...

I thought they wanted equality?

[Kamaji]

From what I have heard, a lot of that debt is in the form of private bonds issued by Disney. If so, then as bonds issued by a private entity (the Disney corporation), I believe Disney remains on the hook for paying off those bonds. But I am not an expert.

One would need to see the terms of the debt to see what would happen.  One also has to consider what the law is for the consequences of dissolving a special district and transferring its governmental functions to the surrounding county.

[Hoodat]

Any time you hear Democrats loudly complain about taxes having to go up, you know they are lying.

[mountaineer]

Just so you know, Disney really isn’t grooming kids.

https://twitter.com/MattWalshBlog/status/1518569040230457344

[Kamaji]

Some of the terms of the various debt instruments issued by the Reedy Creek Improvement District can be gleaned from the continuing disclose the district was required to file each year as part of its obligations under the various debt instruments.  The continuing disclosure from 2020 is available online here:  https://www.rcid.org/document/2020-continuing-disclosure/

[IsailedawayfromFR]

I have possibly more interesting questions.  Universal Studios and Nickelodeon have theme parks in very close proximity.  Were they included in the Reedy Creek zone?

Does this mean they were effectively governed by their largest competitor, maybe even paying them taxes?  Is this anywhere close to being legal?

You may have hit on something.

I too wonder how that works

[Weird Tolkienish Figure]

"Democrats in the Florida House of Representatives can be heard yelling & shrieking after lawmakers voted to remove Disney’s special tax status—a privilege it held for 55 years. Disney employs 38 lobbyists in Tallahassee & donates generously to politicians."  (Video)

https://mobile.twitter.com/MrAndyNgo/status/1517203394699702272

Comments from Twatter say it was about redistricting though?

[DefiantMassRINO]

Live by the government tax break, die by the government tax break.

Government is not a trustworthy partner because they can change the rules whenever they want.