What are the risks regarding the issuance of a $1.2 million bond?

The way this deal is structured, there is no risk to the Town of Boonton or to the Town’s credit rating, even in the event of a default of this bond.

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1. What was the project approved for in 2013?
2. What was the original financial agreement with Avalon Bay?
3. What has transpired since the prior agreement?
4. What are the risks regarding the issuance of a $1.2 million bond?
5. What happens during the interim periods prior to the completion of this project?
6. What is the comparison between conventional taxes for the property, the 2013 agreement and the 2016 agreement?
7. What if there is a default on these bonds?