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It seems easy enough to make a new special purpose entity, not controlled by Disney. Set the millage rare very high, even higher than it is today, and tax Disne
by ars 5y ago
It seems easy enough to make a new special purpose entity, not controlled by Disney. Set the millage rare very high, even higher than it is today, and tax Disney very much.
Collect enough money, store it in a bank, and assign it to paying the bonds.
Then dissolve the special purpose entity once you have collected enough money from Disney, and let the only thing remain be the bank account that will stay on until the bond is over.
- jrochkind1 5y agoUsually special purpose districts with taxing authority have supervisors elected by the property owners or residents in that district. (As does this one, it's just the only property owner is Disney). But I don't know for sure if it would be possible/legal in FL to do differently; like a special district with taxing authority over property owners in the district, whose board is just appointed by the governor or something? I mean I guess they could... it wouldn't surprise me if there are legal problems with effectively just deciding to tax all Disney property extra.