THIS IS A CONTINUATION OF CONVERSATIONS WE WERE DISCUSSING ON NEW ALBANIAN'S BLOG SITE. OUR CONVERSATIONS HAVE BEEN BURIED UNDER OTHER POSTINGS, SO I SUGGESTED WE MOVE IT HERE. Thanks.
We did not enter into a General Obligation Bond for Scribner. We entered into a new territory I'm unfamiliar with called a "Lease Arrangement Agreement, or Lease Arrangement Bond (per se). The City is the Co-Signer on this Bond.
This "Lease" does not go into effect until this "place" is totally built (one of those little nuances in the contract).
There is a way, because of the financing methodology used in this scenario, fifty (50) taxpayers were to sign a petition proving the growth it would bring to the area.
It is on record about Buddy Downs (aka Ice, Miller & Donadio in Indy).
At least we know it's not a GO (General Obligation Bond).
Peace, NA
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