Quote:
Originally Posted by KeepingItReal
District Staff finally admitted that there was an error would have been a much better statement than determined that there was an error.
Bond Interest Refund Procedures
In early August 2012, District staff determined that there was an error in the procedures used in the calculation of bond payoff amounts when a resident elects to pay off their bonds used to fund each District’s infrastructure.
|
It should be noted that this procedure has been used for the last 20 years, ever since bonds were introduced in TV as a way of paying for the infrastructure.
It's a hard to believe that only 880 owners elected to pay off their bonds in all that time. What happened to the interest collected in error since 1992?