Assuming that the activity you're financing will return future positive captureable value (farebox revenues, increased taxable business activity), then borrowing money now to pay for current activities ensuring ability to pay back the loan makes perfect sense.
Note that that assumption of future benefit may not hold out, but if it does, failing to undertake the financing is cutting off your nose to spite your face.
Assuming that the activity you're financing will return future positive captureable value (farebox revenues, increased taxable business activity), then borrowing money now to pay for current activities ensuring ability to pay back the loan makes perfect sense.
Note that that assumption of future benefit may not hold out, but if it does, failing to undertake the financing is cutting off your nose to spite your face.