I'm confused by this as well,
But the main reason for issuing revenue bonds to avoid any statutory debt limits. Wilmington has about $42M in general debt - $33M in general obligation debt and they're not in danger of approaching their statutory limit, but the don't want to risk their good credit rating by incurring too much debt
Why would they propose to increase taxes on property when in fact a revenue bond is paid by the monies generated by the operation of the facility? Can a revenue bond be funded by a designated revenue stream consisting of property taxes?
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