Golf Course Taking Down City Hall...And The Police Station

Sarah Netter reports on another municipal golf calamity, Buena Vista's Vista Links, which may take down City Hall. Literally. Since they used it and the police station as collateral against a $9.2 million loan. Thanks to reader Joel for this.

The Buena Vista City Council had hoped that the rolling greens of the Vista Links golf course would help revive the city's economy when it opened six years ago. But now, with $8.2 million left to pay off and a vote to not include loan payments in next year's budget, guarantors may be coming for city property.

"They've been looking at this for several years, trying to figure out what to do," city attorney Brian Kearney told ABCNews.com. "We're just trying to see what can be worked out at this time."

Although neither Kearney nor ACA Financial Guaranty Corp. would comment on what negotiations might be taking place, Kearney noted that the value of city hall, the police station and Vista Links don't come close to covering the city's outstanding debt.