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Originally Posted by bike42
Totally flawed. The bonds were not purchased by residents. They are sold to investors, usually institutional investors. The bonds in question have nothing to do with the bond on your house.
(from Ritchie's article) " . . . the Village Center district won't owe the IRS a nickel — the tax burden falls wholly on the holders and the buyers of the bonds. They would have to pay taxes on the interest they collected as the loans were being repaid."
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Thank you for the clarification!