Ultimately, one of the goals is to have every home be able to connect to fiber backbone as an optical connection as opposed to cable or copper.

Fiber-optic service would be delivered to homes at no cost, and service providers would offer service such as cable, Internet and phone through the network.

Bonds that support stadiums, cable fiber optic systems and new housing developments can be attractive because they often pay higher yields, but they depend on revenue that is particularly vulnerable to continued economic trouble, says Cohen of Envision Capital.

Burbank is currently making approximately $1 million that is being put back into the general fund.