The Contractual Impossibility of Unwinding Disney s Reedy Creek
Much ado has been made about the legality of Florida s Senate Bill 4C purporting to dissolve Disney s Reedy Creek Improvement District: whether it was retaliation prohibited by the First Amendment, whether it was passed with sufficient formality, and so on. But there s a much more basic reason Florida can t dissolve Reedy Creek it promised bond purchasers that it wouldn t.