[Mpls] Concordia Care Center - city's dime?

[Becker]

I don't know specifically about this bond issue but the City does routinely
issue revenue bonds which are not backed by "the full faith and credit of
the City"  (i.e. general tax revenues).  These are backed by the project
itself and are pure revenue bonds.  The types of organizations that it can
do this for is limited by law, typically non-profits.  Non-profit health
care facilities have been a traditional user of this type of financing as it
gives them lower capital costs.

So, if this was done like other ones are typically done, the general
taxpayer is not on the hook for them.

Carol Becker
Longfellow