Quote:
Originally Posted by chuckinca
If the developer had influence over the districts and the districts were incorrect to issue tax exempt bonds, how does the developer have zero liability?
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A good question but the answer may be unfortunately .. because the IRS goes after the seller of the alleged improper bonds, which is apparently the villages government who get its money from the amenities fees or from taxation of villagers,,,, not the person who was paid with the money raised by the bonds. IT may be an important question for the POA to consider if the residents suffer any adverse consequences from this unfortunate situation... but if this type of arrangement is authorized by Florida law it may be there was no wrongdoing.. and the villagers could end up paying the bill... Job security for lawyers.