Industry asking for HUGE loan

The city is asking its 82 registered voters to give the city permission to borrow $500 million.
On Jan. 20 – the same day Barack Obama will be inaugurated – the city will hold a special election in which voters will decide whether to let the city sell bonds, which would be repaid by property taxes.
Mayor Dave Perez said most of the money would probably go toward widening Grand Avenue and doing other infrastructure around the proposed NFL stadium/retail center project.
In a story about the project, experts said the loan amount sought is uncommonly large.
Voters will also vote on five other amendments to the city charter, including one that would limit who can vote and another that would give the City Council complete discretion over who gets city public works contracts.