This is due to a 1967 contract that states Reedy Creek will not be altered by the state until the district’s bond debt has been repaid.īloomberg reports the district’s bond debt as more than $1 billion. “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 reads, in part. In essence, the state had a contractual obligation not to interfere with the district until the bond debt is paid off, said Jake Schumer, a municipal attorney in the Maitland law firm of Shepard, Smith, Kohlmyer & Hand, in an article for Bloomberg Tax posted on Tuesday and cited in a Law and Crime article. Why it matters: Disney’s statement, while intended for stakeholders, serves as its official comment on the legislative fracas over its operations at Disney World. It’s a reminder that PR pros should be embedded on investor relations strategies as these messages rarely only reach the target audience in today’s media landscape.Ī new report from Morning Consult shows 3 in 4 U.S. Parents of school-aged children say their mental health was better before the pandemic.
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