In re the Bond Issuance of the Greater Wenatchee Regional Events Center Public Facilities District

¶44 (dissenting) — I dissent because the proposed contingent loan agreement (CLA) does not create a debt of the city of Wenatchee (City) within the meaning of our constitutional and statutory limits. The lead opinion invents an entirely new legal analysis to achieve a contrary result.

ANALYSIS

¶45 The primary issue in this case is whether the proposed CLA between the Greater Wenatchee Regional Events Center Public Facilities District (District) and the City would constitute “indebtedness” for the City within its relevant constitutional and statutory meaning. The “risk of loss” theory announced…