Quote:
Originally Posted by Enoch Root
It gets borrowed in public markets. The city doesn't cut a cheque out of its personal coffers (the city doesn't have that kind of money)
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Yeah, but it's the City that gets the borrowed money and is obligated to repay. Sure it is designed to be repaid through ticket surcharges but if the Flames fold in 5 years the City is on the hook for this amount regardless if the building sits empty or not. Risk of borrowing is on the City so that's why I count it on them. At least that's the way the Edmonton deal worked, surcharges went to the City to repay the loans.
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