[Hadleyite]

There is so much complexity to this issue, it's hard to discuss in the meanderings of a discussion board or newspaper article.

The agent who reviewed the tax status of the bonds was greatly concerned with the legal status used by The Villages VCCDD to justify their use in that manner.

As an example, he states, "What is the District in terms of tax exempt bonds? It's really nothing more than a five member governing board populated with Developer employees or related parties that have a history of approving an unlimited amount of tax-exempt bonds to purchase assets from the Developer that in the real world would never pass scrutiny as arms length transactions. "

I can not see how that is not an accurate reflection of much of what took place.

We talk about purchasing cash flow of our amenites ( and they are our amenities fees, not the developers) , yet the excessive prices paid to purchase actual physical entities which do not generate real, ,substantial cash flow are somehow tied to the purchase of the rights to our amenity fees.

I love it here as much as anyone, and would not live anywhere else, but these tactics have been used to enrich the developer, not for the our benefit.

The AAC, which deals with the use of the amenity money in disricts 1-4 was created as the result of the settlement of a lawsuit, not out of an altruistic desire by the Developer for us to have more control in the use of our funds.