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Old 04-29-2022, 12:07 PM   #201
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Join Date: Aug 2010
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Well, FitchRatings had something to say yesterday:


For those who want the elevator summary:

"Fitch's U.S. Tax-Supported Rating Criteria recognizes certain structural factors as a strength for all U.S. local governments, including significant, but not unlimited, autonomy and respect for property rights and bondholder security. In that context, the RCID dissolution bill is outside our baseline expectations for the sector, as it creates ambiguity around which entity or entities will ultimately repay bondholders, which carries adverse consequences for RCID's credit quality and was a significant factor in the Negative Watch." [Emphasis added.]


"Furthermore, the dissolution potentially impinges creditors' rights and may violate the state's covenant to bondholders under the RCID Enabling Act in that it will not limit or alter the right of the district to carry out various governmental services or to levy and collect taxes, fees and other charges. These risks have been highlighted in Fitch's ESG Relevance Score of '5', indicating high relevance to the rating, for Governance Structure for the RCID utilities revenue bonds and Rule of Law, Institutional & Regulatory Quality, Control of Corruption for the ad valorem tax bonds."

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Old 04-29-2022, 12:19 PM   #202
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Short Version: "Quit screwin' around with RCID"
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Old 05-06-2022, 10:56 AM   #203
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Let the legal fun and games begin...

From the Orlando Sentinel, the article will be behind a paywall for many but you get the idea from the title.

"U.S. Senate candidate leads first lawsuit challenging dissolution of Disney World’s Reedy Creek"
- Richard
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Old 05-07-2022, 05:02 PM   #204
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The Disney Dish podcast on May 2nd with Len Testa and Jim Hill covered this.

Search "The Disney Dish with Jim Hill - Episode 372: Why Florida’s attempt to dissolve the RCID is going to fail"

"to educate a person in mind and not in morals is to educate a menace to society"
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