I guess my problem with all of this is, what has changed since 2003 when the bonds in question were issued? What took so long for all of this to become an issue that wasn't known when the bond issue was reviewed by IRS then, the marketing and sale of the bonds, 2004, 2005, 2006, 2007, and 2008? When things take that long to be brought forward, it generates an aroma of its own.
The valuation of revenue-generating items is radically different than that of sedentary items. I have no idea if the valuation of what was sold by the developer is reasonable or not, and have yet to see a valuation by an estimator experienced in determining the worth of businesses. That's not to say there may still be a valuation discrepancy, but at least it would be closer to the mark than what's been insinuated so far.
I'm pleased that the developer has done well in TV and continues to do so. That usually means the continuation of good work, and this place is still better than any other "seasoned citizen" community I've found. I don't see the developer as a philanthropist whose role in life is to take care of strangers at his expense, anymore than any of us tend to work for free. The developer took the risks, and whatever profits the developer has made is no different than any other business.
Those persons who want to hold off or cancel any decision to move to TV because of the publicity on this bond matter, it is your choice. Due diligence in any purchase decision, especially one as important as moving a residence, is a prudent practice. That being said, "due diligence" usually isn't sole reliance on a couple of newspaper articles admitted to be written in a manner where objectivity is replaced by opinion and "slant."
The POA has been quite vigilant, and has done an excellent job in insuring that the contractual duties of all are fulfilled. Obviously, the POA shall continue its efforts in a responsible manner, especially in maintaining a positive relationship with the CCDs and the developer, as more is usually done in a positive relationship than a ltiigious one.
So, as this matter progresses, hopefully facts will take center-stage rather than rumors and innuendo.
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