Why Ron DeSantis may not be able to strip Disney World of its special statusBy Ariel Zilber
April 27, 2022
Disney World may be able to keep the unusual self-governing status the theme park has enjoyed in Florida for decades — despite the fact that Gov. Ron DeSantis last week signed a law to revoke it.
The Reedy Creek Improvement District says that Florida cannot legally dissolve the Disney-dominated self-governing entity next year unless the state covers the estimated $1 billion in outstanding bond debt.
The district, which was created by Florida to entice California-based Disney to build a theme park on land that straddles both Orange and Osceola Counties in the late 1960s, is legally empowered to govern its own affairs.
Reedy Creek sent a letter to bondholders last week citing language of the 1967 law which states that Florida “will not in any way impair the rights or remedies of the holders…until all such bonds together with interest thereon, and all costs and expenses in connection with any act or proceeding by or on behalf of such holders, are fully met and discharged.”
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Source:
https://nypost.com/2022/04/27/why-ron-desantis-may-not-be-able-to-strip-disney-of-its-special-status/