Nothing highlights this ignorance like Twitter's hand-selected top reply claiming:
Now the citizens of Orlando get to foot the bill, including being on the hook for Disney’s $2billion dollar bond coming due. Congratulations to culture war republicans, round of applause on the tax raises
They literally think a corporate bond would have to be paid out by taxpayers.
How do these people eat breakfast cereal without accidentally burning down their pod apartments every day?
It's not 2 billion, and it's not coming due all at once. They haven't had issues making debt service payments, I don't see why that would change with the handover. Actual misinformation being spread as a leftist cope.
There's Disney the company and Reedy Creek Improvement District the governing body. He said Disney if he really means RCID then, yeah, that's a different story but not really.
If there are muni bonds maturing, and RCID issued them, the RCID needs to cough it up. Orange and Ocela counties will likely sue if RCID wants to dump it on them and I honestly don't see a state judge ruling that a municipality that didn't benefit from the issuance is on the hook for paying it back.
The tl;dr here is that Disney is going to (over the next several years) likely have to pay more in taxes because they decided to get political... while everything else stays roughly the same.
Disney can't just abandon the theme parks, so Florida has the high ground in these negotiations.
Nothing highlights this ignorance like Twitter's hand-selected top reply claiming:
They literally think a corporate bond would have to be paid out by taxpayers.
How do these people eat breakfast cereal without accidentally burning down their pod apartments every day?
It's not 2 billion, and it's not coming due all at once. They haven't had issues making debt service payments, I don't see why that would change with the handover. Actual misinformation being spread as a leftist cope.
There's Disney the company and Reedy Creek Improvement District the governing body. He said Disney if he really means RCID then, yeah, that's a different story but not really.
If there are muni bonds maturing, and RCID issued them, the RCID needs to cough it up. Orange and Ocela counties will likely sue if RCID wants to dump it on them and I honestly don't see a state judge ruling that a municipality that didn't benefit from the issuance is on the hook for paying it back.
The tl;dr here is that Disney is going to (over the next several years) likely have to pay more in taxes because they decided to get political... while everything else stays roughly the same.
Disney can't just abandon the theme parks, so Florida has the high ground in these negotiations.
The bonds are secured by a lien on the property taxes. If the property taxes no longer exist, they might be able to default on the bonds.