Thats the difference between a revenue bond (hotel tax) and other financing.
The city of El Paso may increase the room tax taking the onus off the property taxpayers. If that fails they have to find other financing - it's NOT automatically gonna be financed by the city. That would also require another vote for a general obligation bond.
So tell me this Duke.
Lets assume for arguments sake that the voters in the city of Wilmington decide to increase the hotel room tax come November - if we go to a revenue bond, to pay for the stadium.
There's no way to completely build the stadium by 2014 it will be 2015. Does Atlanta stay in the game with us or do they move on to another city?
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