Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#46
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Hey Joaniesmom...........remember to bring your checkbook when you come to TV - - - you're liable to find something you just can't live without!
And "thanks" for the reminder about OH winters............ Ha-ha!! Bill |
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#47
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It is not the bond you paid. It is a separate bond used to finance the acquisition of amenities by the CDDs. At issue are the price these assets were valued at as well the degree of independence of the CDDs from the developer. It is the tax status of the bonds that are in question. If the assets are found to have been improperly valued (i.e. the developer "overcharged" the CDDs) and/or it is determined that the CDDs are really run by the developer, then the ability to issue tax-free bonds will be in jeopardy. Tax free bonds carry a lower interest rate than taxable bonds with a comparable risk. So, it gets complicated in a hurry and, as there is no precedent, we don't know the outcome and speculation is really just that. One thing for sure - the IRS doesn't issue determinations based on the size of the deficit.
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Holyoke, Mass; East Granby, Monroe, Madison and Branford, Conn; Port Clyde, Maine; North Myrtle Beach, SC; The Village of Bonita (April 2009 - ) |
#48
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As ever, smart, sensible and well reasoned. |
#49
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There is a very interesting article that was posted today in open secrets.org re: the developer and the IRS bond issue. Worth a read.
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#50
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Here is a link to the article. |
Closed Thread |
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