Quote:
Originally Posted by aljetmet
This has been boggling my mind.
I am curious. When the bonds were sold, were they for amenities for at the time current units or all future units being built?
I am not going to touch ensuing questions. |
It is my understanding the bonds were sold to pay for amenities that had been built and paid for by the developer, were in current use, and were sold to investors to raise money to buy the amenities from the developer. I think the developer uses his own money to build and pay for amenities and then once the areas are built out, he sells them to the district... something like that. Hope that helps. If I am wrong, someone please correct me.