Talk of The Villages Florida - View Single Post - R We Residents the 'Last to Know!'
Thread: R We Residents the 'Last to Know!'
View Single Post
 
Old 08-29-2010, 04:24 PM
JimJoe's Avatar
JimJoe JimJoe is offline
Veteran member
Join Date: Dec 2008
Location: Iowa
Posts: 855
Thanks: 0
Thanked 0 Times in 0 Posts
Default Civil and Criminal cases both settle
Quote:
Originally Posted by jmitchell View Post
JimJoe,

It is my understanding from reading the IRS complaint against TV that CDDs can issue tax exempt bonds but that they must "qualify". There are a number of factors -- use of the money, etc. What the IRS is now saying is that TV was not "qualified" for some of the bonds. It get very weird IMO because the goverment says and I am paraphasing "o.k. if you pay us XX we will go away, but if you don't we are going after you big time and will look at everything". It seem quite an odd stance for a government agency to take. My husband and I both worked for the Department of Homeland Security and my x-husband was and FBI Agent. TV either broke the law or they didn't. It seems almost like a plea bargain in a criminal case to be bargaining like this and from our experience in the federal government -- that means that the government does not have all their ducks in a row. Again, just my opinion!

Regarding my agent telling us -- no, he did not, but I found TOTV early on and read about it. TOTV is the greatest.

My life experience has be "it is always something". Life is never without challenges. You can say, well I'm not going to move to TV because of the IRS issue, but other communities have other issues. I'm taking my chances. TV has too many positives, the first, and from what I have from the greatest is the PEOPLE, and then the FUN!
I was an attorney for 31 years before I retired. Both criminal and civil cases settle all the time. I do not think there is anything unusual about it, and I do not think it means anything about the strength of either side's case. Sometimes it is a matter of cost of litigation, and sometimes it is a matter of not wanting to look like you are beating up on old people, and sometimes if what you really want is for the other party to change it's behavior, you reduce your claim and require the other party to do what you really want ... like in this instance, issuing tax free bonds. Just a guess and I could be wrong.

Can you please tell me why they did not get an IRS private opinion letter before issuing these bonds?