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Submission: On April 22 via manual from CA — Scanned from CA
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The Reedy Creek Improvement District, where the Disney World theme park and resort are based, reminded bond holders that Florida has pledged to fulfill the terms of any agreement made with holders of district bonds and will not in any way “impair the rights and remedies” of holders, according to a filing posted Thursday to the Municipal Securities Rulemaking Board EMMA website. Florida’s Republican-controlled house will vote Thursday on a measure to strip Disney of its self-governance privileges in the state, escalating a feud between Governor Ron DeSantis and the entertainment giant. The legislation could lead to the dissolution of Reedy Creek, created in 1967 to allow Disney to carry out certain municipal functions on its own. The district has about $1 billion of municipal bonds outstanding, according to data compiled by Bloomberg. “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,” the filing said. This includes “paying debt service on its ad valorem tax bonds and utility revenue bonds, complying with its bond covenants and operating and maintaining its properties.” Related: Disney-DeSantis Battle Stings Muni Debt From Special District, DeSantis Rush to Battle Disney Begs $1 Billion Debt Question (1) — With assistance by Amanda Albright SHARE THIS ARTICLE Copied Follow the authors @danielle_moran + Get alerts forDanielle Moran Have a confidential tip for our reporters? Get in touch Before it's here, it's on the Bloomberg Terminal Learn more LIVE ON BLOOMBERG Watch Live TVListen to Live Radio Video Player is loading. 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