Officials Confident Raiders' Vegas Venue On Schedule NFL Helping Fund Tottenham Stadium Titans Get New Food Service Operation Hawks' Practice Facility Opening This Fall Facility Notes U.S. Bank Arena Upgrade Needed For Tourney Mercedes-Benz Stadium Delays Opening For Third Time Dickies Wins Naming Rights To Ft. Worth Arena Georgia Dome Demolition Could Move To End Of Year Orioles Payments On Ballpark Exceed Cost
Upcoming Conferences and Events
May 31 - Jun 1
COUNTY FINALIZES BOND SALE FOR NEW BENGALS STADIUM
Published May 22, 1998
Hamilton County officials sold $273M in bonds on Tuesday, the "final financing instruments for the Bengals' new stadium," according to Lucy May of the CINCINNATI ENQUIRER. The county received an "average" 5.16% interest rate on the bonds. Earlier this year, the county issued $71.6M in bonds at a 4.87% interest rate, and in all, the county has sold $344.6M in bonds to pay for the stadium. May wrote that is "considerably more" than the original estimate of $322.7M, but officials cite the rising land cost as one reason for the increase. The bonds will be paid off by a half-cent county sales tax increase (CINCINNATI ENQUIRER, 5/20). May reported yesterday that "even with the favorable interest rates," documents show that interest payments will total more than $353M over the 30-year debt. Combined interest for the $273M in bonds sold Tuesday and the $71.6M bond issue in January "brings the total cost of the project," including the stadium complex plus financing costs, to more than $753M. Hamilton County Commissioner Bob Bedinghaus "stressed" that the cost of the $400.3M football complex hasn't changed and said that county officials "plan to pay off the debt early" (CINCINNATI ENQUIRER, 5/21).