The question of who can authorize taking tax revenue currently going to pay off the Edward Jones Dome and using it to fund a new St. Louis Rams stadium has gotten ultra-crazy, with these latest developments in the state legislature:
- The state senate passed a bill banning using the money to pay for a new stadium.
- House leaders got the funding ban stricken from the bill in conference committee.
- Senate leaders said the governor would go ahead with selling bonds based on the Jones Dome money at his own risk, because “we’re not technically obligated to pay” and could just refuse to appropriate funds to pay off the bonds, and bondholders wouldn’t like that much, now would they?
The plan to use the Jones Dome payments for a new stadium is in plenty of trouble as it is, because then somebody would still have to pay off the Jones Dome, and in the governor’s current plan that somebody is the city of St. Louis — which has a law prohibiting new stadium funding without a public vote, and lawyers willing to sue to enforce that provision. But state senators threatening not to pay the governor’s IOUs are a nice added touch. At this point, Nixon might want to just hold a referendum already, and pull out all the stops trying to win it — though it’d undoubtedly help if Rams owner Stan Kroenke were showing any interest in helping to do so, since he’s the guy with the money for a big-bucks ad campaign. What’s the world coming to when you can’t even count on the local billionaire to buy votes?