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Old 06-02-15, 08:58 PM
Mikefln Mikefln is offline
Join Date: 08-26-07
Posts: 85
Mikefln is on a distinguished road
Crusader, I think we all agree that this is a fantastic opportunity for Canton. With that said we are asking an small economically depressed city to front 250 million. Well then questions must be asked. I would want to know how those projections came to be. What data did they use, what surveys did they take, etc.
I am not speaking for oil, but the question is " how much of the 15 billion (I.e. The % in taxes of the gross of the 15 billion) over 25 years is Canton going to get? You also better believe that the annual revenue to the city matters. Canton is going to barrow that money. Canton as an A1 rating according to Moody's which is considered "investment grade" so that is good, but they still are going to pay interest. The first few years when construction is happening the money will not be coming in yet. will Canton have the money to pay that interest? This is not as simple as you make it out to be. This is a great opportunity, but due delligence still needs to be taken.