Possible Use of General Obligation Bonds as a Funding Source
• State financial commitment is $250 million. Additional financial
contribution related to the construction of a fixed roof TBD. State will issue
General Obligation bonds for costs associated with infrastructure. Cost of
finance for roof TBD.
• City of Minneapolis financial commitment is $150 million, remains
unchanged from current bill. Bill language grants city of Minneapolis
flexibility in future use of convention center tax.
• Vikings commitment is TBD. Vikings authorized to keep revenues gained
from naming rights, ticket fees, etc.
• Other costs, partnerships TBD.
• Stadium Authority would likely oversee the construction of the stadium, in
consultation with Vikings and city of Minneapolis
• Stadium includes a fixed roof, with the option for the Vikings to pay the
additional costs for a retractable roof
• State financial commitment will pay costs associated with the infrastructure.
• Roof financing TBD.
Financing with GO Bonds:
• Relies on stable funding source rather than unproven future gaming revenues
• Reduces overall cost of project because interest rates on GO bonds is lower
than appropriation bonds
• Improves funding mechanism, while keeping most of the previous proposal
• Bonding bill will include statewide projects focusing on roads, bridge and
• Additional information required for use of GO bonds.