Remember, the bond is not a loan, it is an investment bond issued by the CDD to pay for infrastructure. We all are paying off our respective bonds issued to the investors.
The bonds rates are higher than a loan's rate because they are different instruments. Bond owners purchase them to make a known return on their investments. This is why they can only be reissued at given intervals, the investors expect to make x% for z years. You cannot renegotiate the bond because you are not the owner, you are the one guaranteeing the bond. Depending on market conditions, at the 10 year point they can be reissued, but will only be reissued if the rate is favorable (lower), when reissued, all those guaranteeing the bond (us the residents) will see a reduction in the interest rate on the bond.
Again, the bond is not a loan as you are accustomed to.
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Don Wiley
GoldWingNut (a motorcycle enthusiast not a gilded fastener)
A student of The Villages, its history and its future.
City of Wildwood
www.goldwingnut.com
YouTube – YouTube.com/GoldWingnut and YouTube.com/GoldWingnutProductions
Carpe diem quam minimum credula postero
Society is produced by our wants, and government by wickedness; the former promotes our happiness positively by uniting our affections, the latter negatively by restraining our vices. - Thomas Paine, 1/10/1776
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