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Location: The Frenchie Farm, Where We Grow 'em Big!
2,080 posts, read 6,909,362 times
Reputation: 1084
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Quote:
Originally Posted by Drover
That's a pretty standard duration of a municipal bond issue. Not sure why you're so alarmed that it took 30 years to pay it off when that's usually how long it takes to pay off a bond issue for capital improvements. The total revenue generated by the new facilities may or may not have rolled in long before the bonds reached maturity. (Given the Expos and Alouettes ticket sales, probably not.)
Location: The Frenchie Farm, Where We Grow 'em Big!
2,080 posts, read 6,909,362 times
Reputation: 1084
Quote:
Originally Posted by Fred314X
Oh, well, OK, I stand corrected. So it only took 30 years! I wonder what other cities would actually look forward to a situation like that?
I don't think other cities are in that situation like Montreal. The sponsors took up some of the tab. Peter Uberoff started that practice for the '84 Olympics in LA. It revolutionized the way cities pay for the Olympics. Example...NBC paid that record $1.25B for the Olympics. Part of that is to pay for the media centers for the Host Cities. Coca-Cola pays for part of the Olympic Villages and venues. GM donates cars for the torch relays and transporting athletes from the Olympic village to the venues.
It would be nice, but you can't ever discount the political aspect of a decision like this. The U.S. has hosted both the summer and winter Olympics more than any other nation. Meanwhile, South America has never once hosted the games. I've got my money on Rio.
So, where do I collect?
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