The Florida House on Monday proposed an overhaul of the Reedy Creek Improvement District that would give power to Gov., who targeted the district last year after he clashed with the Walt Disney Co. over a controversial education law.‘
The five-member board of supervisors would be appointed by DeSantis and confirmed by the Florida Senate for four-year terms, with the caveat that two members appointed initially will serve two-year terms. Also, members may serve only three terms and can be from a broad range of specialty fields.Maintaining the status of Reedy Creek's issued bonds — nearly $1 billion in amount — and preserving Reedy Creek's ability to generate revenue and pay the debt.
Existing board members will serve in their roles only until a replacement is appointed. Meanwhile, the existing members, officers and employees"may not sell, dispose of, encumber, transfer, or expend the assets of the district" other than ordinary business, added the bill. It's unknown how many of the specific construction-related powers previously were part of the Reedy Creek powers enacted in the 1960s.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: JaxBizJournal - 🏆 599. / 51 Read more »