RCT, I am not sure that we are all talking about the same bonds. Yes, there is the one that comes with your home when you buy it new. You can pay it off with no interest.
However, the bond that is being talked about here is a different bond, for many millions of dollars, that the owners of TV owe the developer for the amenities, ie golf course, etc., sold to the owners. (I think that many assume that the amenities belong to them when they buy, but that is not always the case.) That pay off is a large % of your monthly expense charge paid to TV. There is no way for an owner to pay off their share that I am aware of.
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