Quote:
Originally Posted by Russ_Boston
Thank you Laureen and The Shadow.
I think the only thing we (TV homeowners) want to know:
Bottom line - If all goes against us re IRS - what is the cost? I still content that even in a total loss by the TV lawyers the cost, when split among all of us, would be relatively minor.
Without getting into another 20 paragraph discussion - please just guesstimate the bottom line.
Thanks.
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russ,
i wish i could, but i don't have enough expertise to do so, and i explained in a post a while ago that i haven't been able to get anyone who knows enough to lay it out for me.
if the district had to call the roughly $355 million worth of bonds, i'm not sure how that would be accomplished. i do not know whether the district could issue taxable bonds to pay off the tax-free ones. i've speculated about 100 scenarios.
i know that the district's money is your amenity fees, and those are capped. the only other cash it can raise is to levy property taxes on the land ONLY within its district.
that all complicates any "call" situation.
lauren