Other option which a lot have overlooked.
Doing so in this manner gives the council a huge vested interest once they've committed to the idea (which they now have), now any future things the club needs council support on - you would have to imagine they will get 100%, be that infrastructure improvements, planning permissions, dealing with the World Heritage organisation etc
I would argue against this, the Council have to be transparant. However I take your point and hope you are right
I hope we have the ability and options to pay this debt off though sooner than 40 years.