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Originally Posted by rshoffer
Clear, understandable and informative. If the bonds were recalled... what happens then? Thank you.
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Here is where the speculation kicks in...
The CDD would need to sell new bonds to replace those being called. The interest rate would presumably be higher (no longer tax free, most likely considered riskier) which would cost us more money in the form of higher amenities fees. Whether or not the CDD would have any recourse against the developer remains to be seen.
This is a complex bond issue that may take a significant time to resolve.
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Holyoke, Mass; East Granby, Monroe, Madison and Branford, Conn; Port Clyde, Maine; North Myrtle Beach, SC; The Village of Bonita (April 2009 - )
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