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Disney's Self-Governing District Says Florida Cannot Dissolve The District Without Paying Off Its Debt

27 days ago   |   By Bésame

ORLANDO, Fla. - Disney's self-governing special district, the Reedy Creek Improvement District, says that Florida's move to dissolve the district next yearis not legal unless the state pays off Reedy Creek's extensive debts.
Reedy Creek is a special purpose district created by state law in May 1967 that gives The Walt Disney Company extensive governmental control over the land in and around its central Florida theme parks. With that power, Reedy Creek currently has about $1 billion in outstanding bond debt, according to the credit rating agency Fitch Ratings.
In a statement issued to its...
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