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BROWN JOINS 49ERS TO ASK FOR $100M BOND MEASURE
Published January 31, 1997
S.F. Mayor Willie Brown and the 49ers are "expected" to ask the city Board of Supervisors Monday to place a $100M bond measure on the June ballot to help pay for the team's new $300M stadium and retail complex, according to Matier & Ross in the S.F. CHRONICLE. Sources to Matier & Ross indicate Brown has agreed to help finance the stadium with $100M in lease-revenue bonds which will be paid back from revenue earned from a mall the team plans to build around the new stadium. The 49ers will finance the rest of the package with the sale of luxury boxes, tickets, advertising and other revenues generated by the project. Unlike most bonds, which require a two-thirds majority vote, lease- revenue bonds only need a majority to pass, "something the team thinks it can win" (S.F. CHRONICLE, 1/31).