Florida faces a big obstacle as it moves to strip Walt Disney World of its semi-autonomous status in the state: what to do with the special district's nearly $1 billion in bond debt.
Florida's Legislature introduced and approved the dissolution bill in just three days last week, abruptly opening a new phase in the relationship between Florida's politicians and the state's most famous tourist attraction.that numerous concerns were raised about the state plan's impact on Reedy Creek, from financing a solar project to potential changes in benefits and security for its current and retired firefighters.
As the state moved against Disney, the district's bond debt quickly became a worry— particularly in Orange and Osceola counties, which the district straddles. That's because the Florida Senate's ownof the bill found that in most cases when a county takes over a special district, it"shall also assume all indebtedness of the preexisting special district."
County officials have been airing their own concerns about suddenly becoming responsible for providing essential and emergencies services to the area. "If Reedy Creek goes away, the $105 million it collects to operate services goes away," as Scott Randolph, a Democrat who is the Orange County tax collector, said
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