Last October, the good folks in the Kenai Borough approved creation of two new pieces of paper called a bond for infrastructure projects.
One bond issuance for a new cell at the Central Peninsula Landfill and the other a new heating, ventilation and air conditioning system at South Peninsula Hospital (borough owned) in Homer.
Once issued, the bond will be sold to a private bank which will create new money called debt. As always, debt brings interest and the people pay and pay and pay again. Taxes lost to useless interest payments.