Quote:
Originally Posted by ilovetv
Advogado's first sentence above is a key factor of which many are not aware.
This is informative on page 9 of the VCCD IRS Update of May, 2012:
"The Issuer"
The Center District is a local unit of special-purpose government of the State of Florida, created in accordance with the Act pursuant to Ordinance 92-06 adopted by the Town of Lady Lake, effective August 17, 1992, attached as Exhibit D.....
.... The Center District, which is comprised of commercial property, as originally established, encompassed approximately 169.56 acres of land, located entirely with the jurisdictional boundaries of the Town of Lady Lake, Florida in Lake County. There have been various boundary adjustments to reduce and increase boundaries, and the current boundaries encompass 166.82 acres still located entirely within the jurisdictional boundaries of the Town of Lady Lake in Lake County......The remaining acreage, approximately 162.82 acres, is developed.....
http://districtgov.org/images/IRSupd...%205-17-12.pdf
And the two front-page articles of this other POA Bulletin of April, 2009 are highly informative also:
"Investigation of Bonds by the IRS Continues" and....
"AAC Comments on IRS - Bonds"...... See full articles at:
http://www.poa4us.org/bulletins_file...etin200904.pdf |
Yes the issue is related to commercial property and all that but if one thinks the developer is going to pay Back taxes out of their pocket your mislead. It's going to come from somewhere and homeowners somehow will foot the bill.
I relate this to big bad govt saying they're going to take away big oil tax breaks and by doing that consumers are in the clear. That kind of money aint walking away.