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Correct but you're talking private industry versus government.
Walmart will "sell" a bond to raise money for construction. The people who WANT them buy a corporate bond. In this case property owners will be FORCED to pay. Don't get me wrong this is how this works. There will be a vote but in essence, the people who are against this have no choice. Corporate bonds are bought by people WITH a choice
Its a question of infrastructure(needs) versus wants.
We need police, fire, water, sewer and schools
We don't need a baseball stadium - so Mandalay has to "sell" the city on the idea that this debt is good debt.
Unfortunately debt in itself has become the dirtiest of 4 letter words.
Most people will pay, begrudgingly, for infrastructure (even if they don't have kids in the schools) - but to ask them to pay for something they don't like, then feel they don't need, and they don't want and you get this situation.
Apples to oranges - try again



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