The Walt Disney World Special District suggests a potential challenge to the dissolving Florida law is weighing

Walt Disney Co. has been publicly hushed up since Florida Governor Ron Desantis signed the legislation last week removing a special electoral district set up 55 years ago to give society the right to self-govern much of the area around it. Florida. World of Walt Disney.

But the special district intervened in a note sent to investors last week before the law was signed. The Reedy Creek Improvement District has suggested that the district could not be dissolved until the bonds have been paid. Meanwhile, the district is evaluating its business options as usual, a statement posted online says.

“Given the promise made to the Florida government bondholders, Reed Creek is looking forward to exploring its options for continuing its current operations, including the accumulation of taxes payable and the collection of public services revenue, the debt payment from tax obligations. And the utility stocks honoring their bond contracts and managing and maintaining their assets. ”That said, this was first reported by WESH-TV in Orlando.

The district said the legislation, which created the district in 1967, stipulates that the state does not restrict the district to “the performance of any contracts entered into with bondholders or other obligations of the district.”

DeSantis signed the legislation after The Walt Disney Co. publicly announced a parental rights bill that would restrict teaching in public school classrooms on sexual orientation or gender identity from kindergarten to third grade. Critics have called the law “No Gay Gay” and argue that it is written so broadly that it stigmatizes the LGBTQ community.

Eventually, when he signed the law, the away team made it clear that they were taking steps to punish the company’s position because they claimed the company had a “deliberate program” of “introducing sexuality into the programs provided to our juniors.” . children.”

The county’s bond debt is estimated at $ 1 billion, and while it’s still unclear who will assume it after the Reed Creek crash, Democrats say the burden will fall on the towns of Orange and Oceola. In his memo, Reed Creek points out that, according to the State Unified Special District Responsibility Law, “the dissolution of the special district government transfers ownership of all its properties to the local general government, which also covers all pre-existing special debt. District”.

The district was established as a tax entity to raise funds for the construction of roads and other infrastructure. But it also granted Disney control of its properties, including in areas such as land use and environmental measures, as well as the authority to manage its own firefighters.

The law sets June 1, 2023 as the district’s dissolution date. The fence can then be restored.