Disney-governed district in Florida responds to efforts to dissolve it

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The Walt Disney Company's special governing district in Florida has responded to a new law seeking to dissolve it, saying the state would be on the hook for the district's current outstanding debt obligations of approximately $1,000,000,000.

Rob Wile

The law, which Gov. Ron DeSantis signed in a special legislative session last week, would end any independent special district the Legislature established before Nov. 5, 1968. "In light of the State of Florida’s pledge to the District’s bondholders, Reedy Creek expects to explore its options while continuing its present operations, including levying and collecting its ad valorem taxes and collecting its 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," the statement says.

“Disney pays its way when it comes to government services,” Florida lawyer Tom Wilkes, who has worked on matters involving Reedy Creek,. “It pays [two] counties and two county school boards — and gets very little services in return. It doesn’t get any exemptions there.”

 

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So? Get read of Disney. If Walt was alive he would fire the coo

Why does Disney have that much debt?

Why would the state be on the hook for your debt? Liquidate your assets and pay that shit off.

Way to go Disney! Seriously!

Disney to GovRonDeSantis 😏

DeSantis has an uphill battle bc he cannot just dissolve the Disney arrangement with the stroke of a pen. Stay tuned bc he will be left with a bigger problem. 😂

trumpo can pay it. He's 'very, very rich'. But don't throw tomatoes or bananas at him. Those can kill. Paper towels are ok. Throw Paper towels.

Lol you can't fight Disney Hall.

Not sure the law is retroactive. Any debt incurred by Disney is payable by Disney. Depends on the debt instruments.

RonDeSantisFL right about now...

Disney is going to feel the heat before DeSantis. They are already losing value. Families are quiet but they agree with the governor. They want Disney to value them, the actual target, more than a fringe group of childless adults. DeSantis led Florida to prosperity, he's ok.

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