Vikings Stadium Possible Use of General Obligation Bonds as a Funding Source Financial Details:

• 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.

Construction Options:

• 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 intact
• Bonding bill will include statewide projects focusing on roads, bridge and infrastructure.
• Additional information required for use of GO bonds.