Reporter Rochelle Olson updates you on the construction of the new Minnesota Vikings stadium in downtown Minneapolis.

State moves forward with plans for Vikings stadium bond issue

Posted by: Richard Meryhew under Vikings Updated: September 23, 2013 - 11:32 AM

With groundbreaking on a new Vikings stadium only weeks away, the state of Minnesota is moving forward with plans to issue the bonds that will be used to cover the public portion of the project.

The Minnesota Department of Management and Budget Monday issued a formal notice, or "request for proposal," seeking bids from financial institutions interested in providing underwriting services for the $498 million public share of the $975 million project.

The Vikings are responsible for $477 million of the stadium's construction cost with the state and city of Minneapolis picking up the rest.

In a written statement, Management and Budget said it plans to solicit proposals "to establish a pool of firms" to serve as senior managing underwriters or co-managing underwriters "in connection with the issue of fixed rate appropriation bonds of the State."

The deadline for proposals is Oct. 9.

An electronic copy of the request for prosposal is available at the Management and Budget website: http://www.mmb.state.mn.us.

The Vikings and Minnesota Sports Facilities Authority, which is overseeing stadium construction, are in the final stages of negotiating lease and development agreements. Those agreements are expected to go to the authority board Friday for a vote.

Meanwhile, groundbreaking on the stadium, which is expected to replace the Metrodome in time for the 2016 NFL season, is tentatively planned for early November.

ADVERTISEMENT

Houston - LP: D. Keuchel 0 FINAL
NY Yankees - WP: B. McCarthy 3
Cleveland - LP: C. Kluber 1 FINAL
Minnesota - WP: P. Hughes 4
Detroit - LP: D. Price 0 FINAL
Tampa Bay - WP: A. Cobb 1
Arizona - LP: O. Perez 0 FINAL
Washington - WP: R. Soriano 1
San Francisco - LP: R. Vogelsong 1 Top 9th Inning
Chicago Cubs - WP: T. Wada 2
Atlanta 4 Top 3rd Inning
Cincinnati 0
LA Angels 1 Top 3rd Inning
Boston 0
San Francisco - M. Bumgarner 7:35 PM
Chicago Cubs - T. Wood
San Diego - T. Ross 9:10 PM
Los Angeles - C. Kershaw
Pittsburgh 0 1st Qtr 6:09
Philadelphia 7
Carolina 8/22/14 6:30 PM
New England
NY Giants 8/22/14 6:30 PM
NY Jets
Jacksonville 8/22/14 6:30 PM
Detroit
Oakland 8/22/14 7:00 PM
Green Bay
Chicago 8/22/14 9:00 PM
Seattle
Tampa Bay 8/23/14 3:30 PM
Buffalo
Tennessee 8/23/14 6:00 PM
Atlanta
Dallas 8/23/14 6:00 PM
Miami
Washington 8/23/14 6:30 PM
Baltimore
New Orleans 8/23/14 7:00 PM
Indianapolis
Minnesota 8/23/14 7:00 PM
Kansas City
St. Louis 8/23/14 7:00 PM
Cleveland
Houston 8/23/14 8:00 PM
Denver
San Diego 8/24/14 3:00 PM
San Francisco
Cincinnati 8/24/14 7:00 PM
Arizona
(21) Texas A&M 8/28/14 5:00 PM
(9) So Carolina
Wake Forest 8/28/14 6:00 PM
ULM
Boise State 8/28/14 7:00 PM
(18) Ole Miss
Tulane 8/28/14 7:00 PM
Tulsa
Temple 8/28/14 8:15 PM
Vanderbilt
Rutgers 8/28/14 9:00 PM
Washington St
Weber State 8/28/14 9:30 PM
(19) Arizona State
Montreal 8/22/14 7:30 PM
Winnipeg
Toronto 8/23/14 3:00 PM
Edmonton
Calgary 8/24/14 2:00 PM
Ottawa
Saskatchewan 8/24/14 6:00 PM
Brt Columbia
Ottawa 8/29/14 6:30 PM
Montreal
Washington 36 3rd Qtr
Indiana 30
San Antonio 8:00 PM
Minnesota

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

question of the day

Poll: How closely will you follow the Lynx in the WNBA playoffs?

Weekly Question

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT