Walt Disney World’s Special District Suggests It’s Weighing Potential Challenge To Florida Law Dissolving It

deadline.com:

The Walt Disney Co. has remained publicly silent since Florida Governor Ron DeSantis signed a law last week dissolving a special district set up 55-years ago to let the company self-govern much of the area around Walt Disney World.But the special district weighed last week, before the law was signed, in a note sent to investors.

The Reedy Creek Improvement District suggested that the district can’t be dissolved until bonds are paid off. In the meantime, the district is weighing its options while conducting business as usual, according to the note, which was posted online.“In light of the State of Florida’s pledge to the District’s bondholders, Reedy Creek expects to explore its options while continuing its present operations, including levying and collecting its ad valorem taxes and collecting its utility revenues, paying debt service on its ad valorem tax bonds and utility revenue bonds, complying with its bond covenants and operating and maintaining its properties,” the district said.

WESH-TV in Orlando first reported on the note.The district noted that the legislation that created the district in 1967 provided that that state would not limit the ability of the district to “fulfill the terms of any agreement made with the holders of any bonds or other obligations of the District.”DeSantis’ signed the legislation after The Walt Disney Co.

came out publicly against a parental rights bill that restricts public school classroom instruction on sexual orientation or gender identity from Kindergarten through the third grade.