Do the lenders of the money have recourse to either the council or the company which owns the airport in the event of default ? I imagine there is something on this theme to avoid an astronomical interest rate, but just how big a claim could local residents face if it all goes a bit wrong ?
Does Westminster have powers to limit the borrowings by a council ? After Northampton, presumably there will be a level of caution in the corridors of power - if bankruptcy occurs, Westminster would have to pick up (some of) the pieces rather than seeing uncollected rubbish pile up in the streets