Vikings Stadium Bond Suit Thrown Out by Minnesota Court

Bloomberg

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Bond Sale

No new date has been set for the bond sale, John Pollard, a spokesman for the management and budget department, said in an emailed message.

Groundbreaking began last month on the $975 million structure, which the Minnesota Vikings franchise has sought since the roof of the Hubert H. Humphrey Metrodome collapsed in 2010 under the weight of snow. Local officials expect the venue to generate development in downtown Minneapolis and provide a destination for national events such as the Super Bowl.

The city is obligated to pay debt service on its share of a principal amount of $150 million plus interest, while the state's liability is limited to payment on as much as $348 million of bonds plus interest, according to the residents' petition.

Gov. Mark Dayton on Tuesday thanked the court for ruling swiftly.

"Although I felt it had no merit, I was extremely concerned that this lawsuit would delay the financing of the stadium and the progress of the $400 million development adjacent to it," said Dayton, a Democrat. "Today's decision clears the way for thousands of Minnesotans to get to work on these two important projects."

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