Quote:
Originally Posted by EdV
Again for the record, it Does Not Matter what he was paid, with regard to the IRS matter at this point in time. You folks are really beating the death out of that poor horse!
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You are correct Ed ... for the purpose of determining if or not the district qualified / qualifies to sell "tax free" bonds per the determination by the IRS (and perhaps ultimately the court(s) ) as a "public" district is the heart of the matter.
Nor does it matter if or not TV residents like the current system of VCDD control. Because that is not pertinent to the issue for the same reason.
However, it should be of great interest to all TV landowners that "The Developer" was paid a fair and not inflated price for the amenity's purchased with these bonds. IF they were inflated, then a far greater % of amenity fee revenue is going to retiring the bonds than it should be. Resulting in less funding for upkeep and improvement.