Quote:
Originally Posted by rubicon
EdV: Re your comments "From your lips to God's ears". Please tell us who in an official capacity can guarantee that won't happen?. Who in an official capacity can speak to the effect this ruling will have/not respecting residents? ...
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Rubicon,
I was merely responding to the other post that suggested that throughout this entire 5 year (or more) ordeal, that the developer has never said word one regarding the potential financial impact on TV residents, when in fact he has.
You will also note that throughout my many posts here on this subject over the years I’ve never professed to claim I know the outcome, only what cannot legally happen based on reading the applicable legal documents.
By the way, one option that I’ve not seen mentioned is that instead of requiring the Center District to recall all the tax free bonds in question and then sell a new set as taxable, is to simply agree to pay a penalty to the IRS each year for the remaining life of the bonds in question.
Pure speculation on my part but certainly appears to be the path of least resistance if the IRS assertions prevail through the legal system.