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Looks like DeSantis didn't go over the fine print before he stupidly retaliated against Disney for speaking against the so called "don't say gay" bill. By law, Florida cannot end it's contract with Disney until it fulfills the terms of any agreements made with Disney.
According to the The Reedy Creek Improvement Act of 1967, the state law that created the district, 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.
“If Reedy Creek is ever dissolved, it would be a monumental and complicated enterprise even on a years-long timeline,” he said.
“The district has a nine-figure annual budget for expenditures, and even ignoring its various debts, it has a plethora of other contracts that somehow would have to be assigned to and divided between Orange and Osceola counties. However, the dissolution will have to wait until all of its bonds are paid in full,” so, it appears DeSantis's retaliatory actions are outside the financial scope of Florida's pocketbook. Good job Governor!!
According to the The Reedy Creek Improvement Act of 1967, the state law that created the district, 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.
“If Reedy Creek is ever dissolved, it would be a monumental and complicated enterprise even on a years-long timeline,” he said.
“The district has a nine-figure annual budget for expenditures, and even ignoring its various debts, it has a plethora of other contracts that somehow would have to be assigned to and divided between Orange and Osceola counties. However, the dissolution will have to wait until all of its bonds are paid in full,” so, it appears DeSantis's retaliatory actions are outside the financial scope of Florida's pocketbook. Good job Governor!!
Florida can’t dissolve Disney’s self-governing district until it pays off its debts
Disney’s self-governing district, the Reedy Creek Improvement District, can only be dissolved if Florida pays off its debts, experts say. Last week, Florida Gov. Ron DeSantis raised the stake…
www.nydailynews.com