[New Englander]

Originally Posted by Goldwingnut

The developer has no interest in the bond or the collection of the bond assessments. Their interest ended when the construction efforts ended and they were paid for their infrastructure work.

These bonds are managed by the respective CDDs, in your case CDD-9. The bond rates were established by the underwriters when the bonds were issued and it is just like a loan you take out on a car or your home. The P&I paid are determined by the amortization schedule, with the interest paid each year decreasing as the principal decreases each year. Check your mortgage amortization schedule if you have one and you will see it looks the same.

You are not paying interest to The Villages, you are paying it to the bond holders. You may actually have some of these bonds in your investment portfolio.

If you have specific questions about you bond contact the Finance Department at 352-753-0421.

Since you're new to The Villages I highly recommend you attend the Resident Academy. It is a 5 hour class held once per quarter and is free. Go to the districtgov.org to sign up. The class covers may of the areas that new residents, like yourself, do not understand about how and why the community runs as it does. It is time well spent.

You are a real asset to this forum.