Disney's Reedy Creek tells bondholders that dissolution of district is illegal

Posted | Contributed by Jeff

In a statement issued to its bondholders last Thursday, Reedy Creek pointed out that the 1967 law also includes a pledge from Florida to its bondholders. The law states that 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." Due to that pledge, Reedy Creek said it expects to continue business as usual.

Read more from CNN.

Comments: 31