Walt Disney World the district was allowed to issue tax-exempt bonds for public projects within the district, despite the sole beneficiary being Walt Disney Productions. The district soon began construction of drainage canals, and Disney built the first roads and the Magic Kingdom. The Contemporary Resort Hotel and Polynesian Village were also completed in time for the park's opening on October 1, 1971. The Palm and Magnolia golf courses near Magic Kingdom had opened a few weeks before, while Fort Wilderness opened a month later. 24 days after the park opened, Roy O. Disney dedicated the property and declared that it would be
Walt Disney Parks and Resorts the Walt Disney World resort at a project cost of US$300 million. In April 1985, Disney signed a licensing agreement with MGM, giving Disney the right to use the MGM name, logo and movie library for this third park. Construction of the Disney-MGM Studios theme park began in 1986. Disney-MGM Studios opened on May 1, 1989, along with a Pleasure Island entertainment area; its second water park, Disney's Typhoon Lagoon, opened on June 1. In 1983, Walt Disney World Village's name was changed to the Disney Village Marketplace. A new themed area, Mickey's Birthdayland, opened in the Magic Kingdom near