I don't know specifically about this bond issue but the City does routinely issue revenue bonds which are not backed by "the full faith and credit of the City" (i.e. general tax revenues). These are backed by the project itself and are pure revenue bonds. The types of organizations that it can do this for is limited by law, typically non-profits. Non-profit health care facilities have been a traditional user of this type of financing as it gives them lower capital costs.
So, if this was done like other ones are typically done, the general taxpayer is not on the hook for them. Carol Becker Longfellow REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
