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Old 07-19-2012, 07:43 AM
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Default The financial state of Florida’s Community Development Districts
Yet another reason to be glad you chose TV for your retirement home:

“According to the Distressed Debt Securities newsletter, which maintains a website just for Florida CDDs (floridacddreport.com), there are presently 168 CDD districts in Florida which are in default on over $5.1 billion in bonds. Put in a broader context, some $6.5 billion in CDD bonds have been issued since 2003 which means 77% of these are now in default. This makes the Florida CDD defaults the single biggest default event in the history of the municipal market.”