@Noah P Bonds Interesting reading.

He is doing LOW risk type stuff, mutual funds, bonds, etc.

Yet, they have heavy bond debt.  

If I was to use Bond rating terms and Chickasha was a AAA with the potential to build another location with less competition; I would rank this as a BBB due to the heavy competition already there.Since its in your backyard, otherwise there are better options:1. 

As far as misplacing residents...... if the city really means what they say...see if there are grants, development bonds, tax credits that the project may qualify for.

IF you are not willing or cannot do this, go to the track and bet your money on any horse. 2. call everyone you need to involve in a full circle deal and calculate what the costs are. get at least 3 quotes. 3. input those costs along with your spreadsheet model and your mortgage model. 4. make a decision based on "risk free rate of return" or what you can get with an alternative (reit, funds, mutual funds, gov. bonds, etc) add in your time billed at what ever you get paid (before tax)  add that time estimate to the cost. 5. recognize that you cannot go bankrupt buying a REIT stock but you can go belly up if you real estate purchase gets out of hand. 6.

In a bond portfolio you select bonds that mature or payoff at different times along a period of time.

Your taxes can't go up except for by voter approved bond, and I suspect that a tax freeze would exclude voter approved bonds, anyway.There will be some sort of historical commission and they will be able to provide you with all the information you need.

AND they usual MO now is to get the lemmings to pass bonds etc.. that are tacked onto your property taxes to make it WAY more than 1% overall. 

A very, very conservative asset allocation between Vanguard Total Bond Market Index Fund (VBTLX) and Vanguard Total Stock Market Index Fund (VTSAX).