To bond or not to bond? That is a false choice. The correct answer is: just wait until next year.
There are lots of reasons for the delay. A recent millage hike has drawn unwanted scrutiny and unwelcome questions. After all this city has had a tax increase[1] every year of its existence which has been downplayed but now it it is no longer a back-door increase. And no one had the stones to "shut the front door." Another problem is the mid-term elections. When the city (or Citizens For Dunwoody/Dunwoody Yes!) want something passed that is unpalatable to the thinking voters they schedule the vote in an off year at an unusual time. Think: round about the Fourth of July. Worked the first time.
Heneghan nailed it with “A November [2022] referendum for me is off the table.” Lautenbacher confirmed the delay“We need to march down the road so we’re ready.” Odd man out, Joe Seconder voiced surprise that a committee of three would make these decisions unilaterally rather than having the full council weigh in. That's because success requires this thing be downplayed until the ambush vote next year.