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10-28-2009, 11:11 PM
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Senior Member
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Join Date: Feb 2008
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Irs
Quote:
Originally Posted by joannej
The Villages in the state of Florida has generated a lot of revenue for the state, provided more jobs than any other place in FL, attracted many small and large business entities, provided a lifestyle for many that is second to none, have schools that are the envy of other cities, has generated more tax money for local, state, national than most communities. And during these hard times, it continues to grow in size. So my question is, if the CDC system works so well here, why are we under the gun for the bond issue? Certainly, Mr. Morse's lawyers were advised about the legality of the use of bonds with the IRS when the Villages came into being. So why is this an issue now?
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As you do your homework you will come to realize Mr. Morse did not issue the bonds whose legality is being questioned by the IRS. The issuer was the VCCDD a government body.
http://www.poa4us.org/bulletins_file...etin200909.pdf
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