Disney STRIKES BACK and says Florida is responsible for its $2B bond debt after Gov. DeSantis stripped it of 55-year-old special status

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The district board met days after Gov. DeSantis ordered the district dissolved
But there was little talk of the issue save for a brief discussion on how it would affect a planned expansion of solar panels
The head of Reedy Creek’s union says employees are in the dark about their jobs
By dissolving RCID, residents in Osceola and Orange counties would be liable for Disney’s $2 billion bond debts
Tax collectors estimate the liability would raise resident taxes between $2,200 and $2,800 per family of four
Other legal experts allege a court may strike down DeSantis’ ruling to dissolve RCID because of First Amendment violations
Many believe DeSantis removed Disney’s special privilege status because the entertainment giant vocally opposed his so-called Don’t Say Gay bill

“O come, let us worship and bow down: let us kneel before the LORD our maker.”  Psalms 95:6 (KJV) 

Disney has hit back at Florida Gov. Ron DeSantis over his decision to strip the Reedy Creek Improvement District of special privileges, saying that there is a clause in its original contract that stipulates the state is responsible for its $2 billion bond debt.

Democrats have slammed DeSantis’ decision as petty retaliation for Disney’s opposition to his so-called ‘Don’t Say Gay’ bill, warning that homeowners could face tax bills if they have to absorb costs from the company, though details are far from clear.

‘The devil is in the details and we don’t yet today have the details,’ said Orange County Mayor Jerry Demings, whose county is partially home to Disney World.

He added it would be ‘catastrophic for our budget’ if the county had to assume the costs for public safety at the theme park resort.

DeSantis’s bid to strip Disney World of its self-governing status could fail because of the tax burden it’ll impose on locals, lawyers believe.

The Sunshine State’s laws stipulate that all residents must be taxed equally.

But winding down Reedy Creek Improvement District – the name of the private body that oversees Disney’s Orlando resort – would leave the state liable for $2 billion in bond debts currently held by the entertainment giant.

Disney issued those bonds – seen as an extremely safe financial investment – to fund the expansion of Walt Disney World Resort.

But unwinding Reedy Creek means families from Orange and Osceola Counties would be on the hook for between $2,200 and $2,800 each, because the district would be absorbed into both areas.

On Wednesday, the Reedy Creek board of supervisors carried on with business as usual on Wednesday, barely mentioning the  decision to dissolve the district.

The issue wasn’t even on the agenda, but it was briefly mentioned during a discussion on solar panels.

District administrator John Classe said that a planned expansion of the solar energy program could be delayed due to financial challenges caused by the new law, according to WESH reporter Bob Hazen.

The district handles permits, trash collection and emergency services for the Orlando-area theme park.

It will be dissolved on June 1, 2023, according to a law fast-tracked by the state legislature and signed by DeSantis on Friday as the governor and the media conglomerate clashed over the ‘Don’t Say Gay’ law.

On Wednesday morning, Reedy Creek officials seemed just as confused as everyone else about what will come next, as it’s revealed that the district’s $2 billion bond debts could be transferred to Orange and Osceola counties, leaving taxpayers on the hook for as much as $2,800 per family of four.

The district’s 400 employees would also lose their jobs and benefits, which include lifetime complimentary Disney passes worth as much as $1,300 a year.

District supervisor Don Greer told Hazen: ‘If it’s going to be different than what we have, it will have to look like what it is. Because there’s just too much here to dump on anybody else.’

Photos from Wednesday show what looks like a regular meeting for the Reedy Creek Improvement District.

The district was created in 1967 by a Republican lawmaker. It’s governed by a board selected by Disney and other com…

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