folks,
my name is lauren ritchie, and i am the orlando sentinel columnist who has been watching the progress of the IRS examination of the village center district (and now the sumter landing district) bonds.
the news story on the latest developments is posted at the sentinel site at
www.orlandosentinel.com/lake
there, you can find links to the news story, my column which tries to look a little ahead in the process (this may answer your question, conn8757) and the actual documents sent to the district by the IRS. they are a fascinating read, and i recommend looking at them.
also, i've posted a blog item that deals with the response of charles smith, a villages resident who is the chairman of the village center district board of supervisors.
that link is
http://www.orlandosentinel.com/laurenonlake
i notice that someone asked whether bond buyers are being notified of the problems with the bonds before purchasing them. i do not know the answer, but i can tell you that the village district has done the right thing by notifying the standard reporting agencies of problems with the IRS. whether investment advisors know of/pass along those notices is not something i can answer. perhaps you have some retired investment advisor who can get on the forum and tell you.
if you read the article and column carefully, you will realize that this is but a step in the process. however, it's a step that tells you a lot about where the IRS is headed with this investigation.
i invite your comments on the column and on the blog. i'll also check back here later today and try to respond to anything posted here. at the moment, i have five wide-open acres just screaming to be mowed.
lauren ritchie