Quote:
Originally Posted by The Shadow
And then there was light. 
Well that clears up one thing, I guess now you all know I am not Lauren Ritchie.
Thank you Lauren for going above and beyond with your detailed post and for offering to respond to individual questions via email.
I think a detail has fallen through a crack; the one about the CDD has to have a police department to qualify to issue tax free bonds. When called on that TV said we have a fire department. Da |
hi shadow,
i don't believe the district must have a police department to qualify for tax-free bonds. it is not quite that simple. however, you are correct that it is one of the tests that the IRS applies.
another is the use of eminent domain. the district does have that right but the villages acknowledged that it never has been used. the agent seemed to make a big deal of that in his analysis, but it never hit me as critical. after all, when you build the city, you account for what you need and don't have to use eminent domain to take property for, say, a sewer plant needed because of growth. you have all that in place.
lauren