My Take On Disney And DeSantis
- Thread starter hawaiian cane
- Start date
According to Newsweek, Disney has called DeSantis' bluff. Disney's Reedy Creek Improvement District (RCID) said the state of Florida cannot terminate the district unless the state pays off Reedy Creek's $1B debt fulfilling the state's pledge to bond holders per a 1967 act.
Reedy Creek currently has around $1B in extensive bond debt, according to Fitch Ratings, a credit rating agency.
Reedy Creek argues in a statement, posted to the Municipal Securities Rulemaking Board, on April 21, that Florida pledged to the District's bondholders that "it will not limit or alter the rights of the district."
"Florida, will not in any way impair the rights or remedies of the holders, and that it will not modify in any way the exemption from taxation provided in the Reedy Creek Act, 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."
The RCID was created as part of a 1967 act by Florida lawmakers under former Republican Governor Charlie Kirk Jr that granted Disney self governing authority.
The 1967 act allowed Disney full control over lands where it's theme parks are located in Florida. It is this act that allows RCID to have its own fire protection, utilities, planning and securities sevices.
As a result of a feud over Parental Rights Education bill that was recently signed into law, Gov DeSantis last week signed bill HB 3C bill stripping Disney of its special governmental rights and tax privileges in Florida. The bill is set to go into effect on June 1, 2023.
"Why should any company have the right to succeed from the state and govern itself? Its an extraordinary situation," said Florida House of Representative Randy Fine (R) who introduced the bill.
The new bill calls for dismantling six governing special districts in Florida, including the RCID which which acts as Disney's government in Osceola and Orange counties.
However, Reedy Creek said last week they will continue operations regardless, citing the state's pledge to bond holders.
"In light of the state of Florida's pledge to the district's bond holders, Reedy Creek expects to explore its options, while continuing its present operations, including levying and collecting it's ad valorem tax bonds and collecting utility revenues, paying debt service on its ad valorem tax bonds and utility revenue bonds, complying with its bond covenants and operating and maintaining its properties," Reedy Creek added in the April 21 statement.
This is a retaliatory act by FL republicans all because Disney spoke out against the states stand on LGBTQ. So Im sure Disney came to the defense of its 80,000+ employees, which includes a percentage of them being members of the LGBTQ community. Florida has a fascist Governor, one that tries to take away Disney's right to free speech. Its whats called having a homophobic tantrum and it could cost Floridians $2B and 25% higher property taxes. Florida residents will be on the hook and the states republican leaders will blame Democrats.
Grandstanding personified!
Reedy Creek currently has around $1B in extensive bond debt, according to Fitch Ratings, a credit rating agency.
Reedy Creek argues in a statement, posted to the Municipal Securities Rulemaking Board, on April 21, that Florida pledged to the District's bondholders that "it will not limit or alter the rights of the district."
"Florida, will not in any way impair the rights or remedies of the holders, and that it will not modify in any way the exemption from taxation provided in the Reedy Creek Act, 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."
The RCID was created as part of a 1967 act by Florida lawmakers under former Republican Governor Charlie Kirk Jr that granted Disney self governing authority.
The 1967 act allowed Disney full control over lands where it's theme parks are located in Florida. It is this act that allows RCID to have its own fire protection, utilities, planning and securities sevices.
As a result of a feud over Parental Rights Education bill that was recently signed into law, Gov DeSantis last week signed bill HB 3C bill stripping Disney of its special governmental rights and tax privileges in Florida. The bill is set to go into effect on June 1, 2023.
"Why should any company have the right to succeed from the state and govern itself? Its an extraordinary situation," said Florida House of Representative Randy Fine (R) who introduced the bill.
The new bill calls for dismantling six governing special districts in Florida, including the RCID which which acts as Disney's government in Osceola and Orange counties.
However, Reedy Creek said last week they will continue operations regardless, citing the state's pledge to bond holders.
"In light of the state of Florida's pledge to the district's bond holders, Reedy Creek expects to explore its options, while continuing its present operations, including levying and collecting it's ad valorem tax bonds and collecting utility revenues, paying debt service on its ad valorem tax bonds and utility revenue bonds, complying with its bond covenants and operating and maintaining its properties," Reedy Creek added in the April 21 statement.
This is a retaliatory act by FL republicans all because Disney spoke out against the states stand on LGBTQ. So Im sure Disney came to the defense of its 80,000+ employees, which includes a percentage of them being members of the LGBTQ community. Florida has a fascist Governor, one that tries to take away Disney's right to free speech. Its whats called having a homophobic tantrum and it could cost Floridians $2B and 25% higher property taxes. Florida residents will be on the hook and the states republican leaders will blame Democrats.
Grandstanding personified!
Republicans always say they love Trump's policies and can't stand him but never bring up his corruption. Why?
Newsweek is pro Narrative now unfortunately. TO be honest, it's almost hard to get real journalism anymore. Most Main Stream Media now are NOT journalists anymore but the opposite of what they were intended if you havent noticed. Media was SUPPOSED to call out Gov't, left or right, if things dont make sense (Making up the name Don't Say Gay") as an example. COMPLETELY MADE UP, bill doesnt have the word Gay in it AND its about not teaching Grades k-3 that they can switch sexes & not being shown sexually explicit photos at that young of age
But the media fails to say that and only follows what they are told now (Propaganda)
2/2. Then, these Propaganda outlets created the Fact Checking sites which even if they are LYING, back the narrative. So, if someone who works 8-10 hours a day, always trusted a certain network in the past, hears it on the news & then maybe googles an article & Fact checkers verify it, BOOM, they think its accurate.
That's just our world right now.
DeSantis has already planned out his next move. The left’s dire warning about increased taxes for normal citizens is nonsense. Disney is not going to get anything free nor any relief from taxes or bond obligations.
Disney is stuck .
It has billions upon billions of $ tied up in the Florida resort and park . The own multiple hotels , golf courses, parks , roads and other real property
They don’t want to be crossways with a state government that can tax them to death .
DeSantis made them millions by letting the parks open early, whereas the California park was shut down
Meanwhile the growth of the Republican Party in Florida has been incredible
Disney is stuck .
It has billions upon billions of $ tied up in the Florida resort and park . The own multiple hotels , golf courses, parks , roads and other real property
They don’t want to be crossways with a state government that can tax them to death .
DeSantis made them millions by letting the parks open early, whereas the California park was shut down
Meanwhile the growth of the Republican Party in Florida has been incredible
I've been to the Disney in Anaheim and the motels just outside the property is run by pimps and drug dealers when I was there years ago. Don't know how it is today but I would pass on this Disney.
I hope he doesn't run again because I don't like him. I think his policies were very good, but I think HE, personally, is bad for our country.
