Backfiring because a portion of the 1967 law that made Disney in the state a self-governing area holds a key clause DeSantis is trying to ignore. In the 1967 law, the following clause is contained within that lays out that Florida must pay the district’s debts if it were to be dissolved.
Florida “will not in any way impair the rights or remedies of the holders … until all such bonds together with interest thereon, and all costs and expenses in connection with any act or proceeding by or on behalf of such holders, are fully met and discharged.”
Disney has since announced that it pretty much expects to continue business as usual because Florida is attempting to break its own law.
Those debts are understood to stand somewhere between $1B and up. A court earlier this week ruled that DeSantis was already in the wrong in attempting to get rid of Reedy Creek simply because FL taxpayers would’ve been on the hook for the enormous bill.
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