And the Minnesota Vikings stadium bonds have been sold:
“It’s a good day. It’s a good day to get the sale done and move on to the building of the stadium,” said [Minnesota Management and Budget] commissioner Jim Schowalter. “The rates we got were really good because of market conditions. That said, we’re probably still paying a little bit higher rates than we would for our typical general obligation bonds.”
MMB said the interest rate on the sale was 4.27 percent for the combination of taxable and non-taxable bonds. The money will pay for the state and city’s portion of the $1 billion stadium, now under construction in Minneapolis.
The bonds are for $462 million, but counting operating subsidies from the city of Minneapolis and the value of free land and property-tax breaks, the total public subsidy is more like $1.1 billion. At least Minnesotans will get to host a Super Bowl for their trouble, maybe. Woo?