Quote:
Originally Posted by Mikeod
The dispute is not with Morse, but with the central districts who issued the bonds to purchase the amenities. That is why the costs are being paid out of the district's income stream, which is our amenity fees.
I think this latest development is significant in that a major part of the dispute was the IRS position that the VCCDD and SLCDD were not political subdivisions and therefore not eligible to issue tax free bonds. This stance applied a standard that was not in effect at the time the bonds were issued and now the IRS agrees not to apply the new standard retroactively.
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Well done!
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The further a society drifts from truth the more it will hate those who speak it. George Orwell.
“Only truth and transparency can guarantee freedom”, John McCain
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